ID :
55415
Tue, 04/14/2009 - 17:17
Auther :
Shortlink :
https://www.oananews.org//node/55415
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Seoul shares end up after choppy trading
SEOUL, April 14 (Yonhap) -- South Korean share prices closed slightly higher
Tuesday after some severe fluctuation in early trading, extending gains for a
third consecutive day, analysts said. The Korean won rose against the U.S.
dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 4.37 points, or
0.33 percent, to close at 1,342.63. Volume was heavy at 924.4 million shares
worth 8.2 trillion won (US$6.19 billion), with gainers outpacing losers 408 to
396.
"While there are some signs of hope that the economic slowdown is gradually
receding, investors were cautious ahead of the first-quarter earnings reports,"
said Choi Jae-shik, an analyst with Daeshin Investment and Securities. "The
market this week will continue to show corrections in a mild zigzag."
Foreign investors were net buyers of stocks worth 132 billion won and retail
investors bought a net 229 billion won worth of shares. Institutions sold a net
372.2 billion won worth of stocks.
The key index got off to a weak start and continued to swing between positive and
negative territory.
Tech shares ended mixed as market leader Samsung Electronics fell 1.2 percent to
576,000 won, while LG Electronics was up 3.76 percent to 102,000 won and Hynix
Semiconductor gained 3.73 percent to 13,900 won.
Most financials rose on optimism that declining profits would be smaller than
expected, following overnight news that Goldman Sachs Group Inc. reported
better-than-expected quarterly results after the U.S. market closed on Monday.
KB Financial Group, the holding company of the country's leading lender Kookmin
Bank, gained 0.38 percent to 39,250 won and its rival Woori Finance Holdings rose
2.5 percent to 10,250 won.
Auto shares managed marginal gains, with Hyundai Motor gaining 0.3 percent to
66,300 won and its affiliate Kia Motors steady at 10,150 won.
The local currency ended at 1,323.5 won to the dollar, up 5.5 won from Monday's
close, as demand for local stocks from offshore investors increased, dealers
said.
ygkim@yna.co.kr
(END)
Tuesday after some severe fluctuation in early trading, extending gains for a
third consecutive day, analysts said. The Korean won rose against the U.S.
dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 4.37 points, or
0.33 percent, to close at 1,342.63. Volume was heavy at 924.4 million shares
worth 8.2 trillion won (US$6.19 billion), with gainers outpacing losers 408 to
396.
"While there are some signs of hope that the economic slowdown is gradually
receding, investors were cautious ahead of the first-quarter earnings reports,"
said Choi Jae-shik, an analyst with Daeshin Investment and Securities. "The
market this week will continue to show corrections in a mild zigzag."
Foreign investors were net buyers of stocks worth 132 billion won and retail
investors bought a net 229 billion won worth of shares. Institutions sold a net
372.2 billion won worth of stocks.
The key index got off to a weak start and continued to swing between positive and
negative territory.
Tech shares ended mixed as market leader Samsung Electronics fell 1.2 percent to
576,000 won, while LG Electronics was up 3.76 percent to 102,000 won and Hynix
Semiconductor gained 3.73 percent to 13,900 won.
Most financials rose on optimism that declining profits would be smaller than
expected, following overnight news that Goldman Sachs Group Inc. reported
better-than-expected quarterly results after the U.S. market closed on Monday.
KB Financial Group, the holding company of the country's leading lender Kookmin
Bank, gained 0.38 percent to 39,250 won and its rival Woori Finance Holdings rose
2.5 percent to 10,250 won.
Auto shares managed marginal gains, with Hyundai Motor gaining 0.3 percent to
66,300 won and its affiliate Kia Motors steady at 10,150 won.
The local currency ended at 1,323.5 won to the dollar, up 5.5 won from Monday's
close, as demand for local stocks from offshore investors increased, dealers
said.
ygkim@yna.co.kr
(END)
