ID :
53714
Fri, 04/03/2009 - 18:22
Auther :
Shortlink :
https://www.oananews.org//node/53714
The shortlink copeid
Seoul stocks close 0.53 pct up on foreign buying
(ATTN: ADDS bond yields at bottom)
SEOUL, April 3 (Yonhap) -- South Korean stocks closed 0.53 percent higher Friday
on the back of strong foreign buying, analysts said. The local currency fell
against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 6.78 points to
1,283.75, extending its gains for a fourth day. Volume was heavy at 608.9 million
shares worth 7.65 trillion won (US$5.71 billion), but losers outnumbered gainers
425 to 406.
"Purchases by foreign investors led the gain as their appetite for riskier assets
increased on better economic indicators and concerted efforts by world leaders to
ride out the global economic downturn," said Jun Ji-won, an analyst at Kiwoom
Securities.
Overseas investors were net buyers for a third day, scooping up 470 billion won
worth of shares.
Retailers gained substantial ground on expectations of improving sales.
Shinsegae, owner of leading discount chain Emart, jumped 6.27 percent to 466,000
won and Lotte Shopping, the top department store chain, added 2.79 percent to end
at 221,000 won.
Steelmakers also received a boost, with Hyundai Steel surging 3.72 percent to
48,750 won.
Financials finished higher, tracking overnight banking sector gains in the U.S.
market. Shinhan Financial Group, the parent of No. 2 lender Shinhan Bank,
advanced 4.14 percent to 28,900 won, with Busan Bank, a provincial lender based
in South Korea's biggest port city, surging 6.76 percent to 6,950 won.
Samsung C&T Corporation, a construction and trading company, shed 0.95 percent to
41,700 won after its 1.38 trillion won (US$1 billion) order from the United Arab
Emirates was scrapped.
The local currency finished at 1,340.5 won against the U.S. dollar, down 6 won
from Thursday's close, as importers bought the greenback to pay bills.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries rose 0.08 percentage point to 3.95 percent and the
benchmark yield on five-year government bonds also climbed 0.05 percentage point
to 4.62 percent.
pbr@yna.co.kr
(END)
SEOUL, April 3 (Yonhap) -- South Korean stocks closed 0.53 percent higher Friday
on the back of strong foreign buying, analysts said. The local currency fell
against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 6.78 points to
1,283.75, extending its gains for a fourth day. Volume was heavy at 608.9 million
shares worth 7.65 trillion won (US$5.71 billion), but losers outnumbered gainers
425 to 406.
"Purchases by foreign investors led the gain as their appetite for riskier assets
increased on better economic indicators and concerted efforts by world leaders to
ride out the global economic downturn," said Jun Ji-won, an analyst at Kiwoom
Securities.
Overseas investors were net buyers for a third day, scooping up 470 billion won
worth of shares.
Retailers gained substantial ground on expectations of improving sales.
Shinsegae, owner of leading discount chain Emart, jumped 6.27 percent to 466,000
won and Lotte Shopping, the top department store chain, added 2.79 percent to end
at 221,000 won.
Steelmakers also received a boost, with Hyundai Steel surging 3.72 percent to
48,750 won.
Financials finished higher, tracking overnight banking sector gains in the U.S.
market. Shinhan Financial Group, the parent of No. 2 lender Shinhan Bank,
advanced 4.14 percent to 28,900 won, with Busan Bank, a provincial lender based
in South Korea's biggest port city, surging 6.76 percent to 6,950 won.
Samsung C&T Corporation, a construction and trading company, shed 0.95 percent to
41,700 won after its 1.38 trillion won (US$1 billion) order from the United Arab
Emirates was scrapped.
The local currency finished at 1,340.5 won against the U.S. dollar, down 6 won
from Thursday's close, as importers bought the greenback to pay bills.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries rose 0.08 percentage point to 3.95 percent and the
benchmark yield on five-year government bonds also climbed 0.05 percentage point
to 4.62 percent.
pbr@yna.co.kr
(END)
