ID :
53128
Tue, 03/31/2009 - 16:45
Auther :
Shortlink :
https://www.oananews.org//node/53128
The shortlink copeid
Seoul stocks close 0.73 pct higher on retail buying
(ATTN: ADDS bond yields at bottom)
SEOUL, March 31 (Yonhap) -- South Korean stocks closed up 0.73 percent Tuesday as
strong retail buying more than offset foreign sell-offs, analysts said. The local
currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 8.8 points to
1,206.26. Volume was moderate at 496.5 million shares worth 5.1 trillion won
(US$3.7 billion), with gainers outnumbering losers 583 to 239.
"After surging as high as 2 percent, the key index pared its advances on massive
foreign selling," said Kwak Joong-bo, an analyst at Hana Daetoo Securities. "But
a slowdown in February industrial output contraction helped prevent further
losses," Kwak said.
The National Statistical Office said the nation's industrial production shrank
10.3 percent last month from a year earlier, compared with a revised 25.5 percent
tumble in January.
Foreign investors were net sellers for a second session. They sold a net 207
billion won worth of shares.
Auto makers finished stronger on expectation U.S. auto sector woes would help
boost local carmakers' market shares in the world's largest economy. Hyundai
Motor jumped 4.72 percent to 55,500 won and its affiliate Kia Motors ended at
8,530 won, up 5.96 percent from Monday.
Builders also gained ground after the government expanded their support measures
to boost home sales. Second-biggest builder GS Engineering & Construction rose
4.44 percent to 61,100 won.
Banks shares finished mixed. KB Financial Group, which owns top lender Kookmin
Bank, fell 2.51 percent to 32,950 won while Shinhan Financial Group climbed 1.23
percent to end at 24,600 won.
The won finished at 1,383.5 won against the U.S. dollar, up 8 won from Monday's
close, ending two days of heavy falls.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries climbed 0.05 percentage point to 3.94 percent, and the
benchmark yield on five-year government bonds added 0.01 percentage point to 4.69
percent.
pbr@yna.co.kr
(END)
SEOUL, March 31 (Yonhap) -- South Korean stocks closed up 0.73 percent Tuesday as
strong retail buying more than offset foreign sell-offs, analysts said. The local
currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 8.8 points to
1,206.26. Volume was moderate at 496.5 million shares worth 5.1 trillion won
(US$3.7 billion), with gainers outnumbering losers 583 to 239.
"After surging as high as 2 percent, the key index pared its advances on massive
foreign selling," said Kwak Joong-bo, an analyst at Hana Daetoo Securities. "But
a slowdown in February industrial output contraction helped prevent further
losses," Kwak said.
The National Statistical Office said the nation's industrial production shrank
10.3 percent last month from a year earlier, compared with a revised 25.5 percent
tumble in January.
Foreign investors were net sellers for a second session. They sold a net 207
billion won worth of shares.
Auto makers finished stronger on expectation U.S. auto sector woes would help
boost local carmakers' market shares in the world's largest economy. Hyundai
Motor jumped 4.72 percent to 55,500 won and its affiliate Kia Motors ended at
8,530 won, up 5.96 percent from Monday.
Builders also gained ground after the government expanded their support measures
to boost home sales. Second-biggest builder GS Engineering & Construction rose
4.44 percent to 61,100 won.
Banks shares finished mixed. KB Financial Group, which owns top lender Kookmin
Bank, fell 2.51 percent to 32,950 won while Shinhan Financial Group climbed 1.23
percent to end at 24,600 won.
The won finished at 1,383.5 won against the U.S. dollar, up 8 won from Monday's
close, ending two days of heavy falls.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries climbed 0.05 percentage point to 3.94 percent, and the
benchmark yield on five-year government bonds added 0.01 percentage point to 4.69
percent.
pbr@yna.co.kr
(END)
