ID :
55997
Fri, 04/17/2009 - 18:06
Auther :
Shortlink :
https://www.oananews.org//node/55997
The shortlink copeid
Seoul shares end 0.58 pct down on profit-taking
(ATTN: ADDS more info in 4th para; ADDS bond yields at bottom)
SEOUL, April 17 (Yonhap) -- South Korean stocks closed 0.58 percent lower Friday
as institutions cashed in profits from recent advances, analysts said. The local
currency ended flat against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.72 points to
1,329.00. Volume was heavy at 783.03 million shares worth 8.1 trillion won (US$
6.1 billion), with losers outpacing gainers 590 to 240.
"Reversing gains in morning trading, the key index lost ground as institutional
investors locked in profits from recent surges," said Park So-yeon, an analyst at
Korea Investment & Securities Co.
Telecoms issues lost considerably on fears the recent merger between industry
giant KT and its mobile unit will likely intensify competition. KT, which merged
with South Korea's No. 2 mobile carrier KTF in late March, lost 1.55 percent to
38,000 won.
No. 1 mobile carrier SK Telecom inched down 2.36 percent to 186,500 won, and its
Internet broadband affiliate SK Broadband closed down 2.92 percent at 5,980 won.
Many exporters, however, bucked the overall market mood, ending in positive
territory after taking a cue from a series of optimistic economic and earnings
reports in the United States.
Major tech exporters led the upward move. Industry heavyweight Samsung
Electronics rose 2.75 percent to 597,000 won and rival chipmaker Hynix
Semiconductor also gained 8.68 to 14,400, on the news that the global
semiconductor glut is clearing.
Top steelmaker POSCO rose 1.73 percent to 412,500 won and flat-panel maker LG
Display gained 0.96 percent to 31,6450 won, with its better-than-expected
earnings reports.
The local currency held steady at 1,332.00 won to the dollar as a morning-session
gain was offset by a fall in afternoon trading, dealers said.
Bond prices, which move inversely to yields, closed higher. The return on
three-year Treasuries fell 0.08 percentage point to 3.72 percent and the
benchmark yield on five-year government bonds lost 0.08 percentage point to 4.38
percent.
ygkim@yna.co.kr
(END)
SEOUL, April 17 (Yonhap) -- South Korean stocks closed 0.58 percent lower Friday
as institutions cashed in profits from recent advances, analysts said. The local
currency ended flat against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.72 points to
1,329.00. Volume was heavy at 783.03 million shares worth 8.1 trillion won (US$
6.1 billion), with losers outpacing gainers 590 to 240.
"Reversing gains in morning trading, the key index lost ground as institutional
investors locked in profits from recent surges," said Park So-yeon, an analyst at
Korea Investment & Securities Co.
Telecoms issues lost considerably on fears the recent merger between industry
giant KT and its mobile unit will likely intensify competition. KT, which merged
with South Korea's No. 2 mobile carrier KTF in late March, lost 1.55 percent to
38,000 won.
No. 1 mobile carrier SK Telecom inched down 2.36 percent to 186,500 won, and its
Internet broadband affiliate SK Broadband closed down 2.92 percent at 5,980 won.
Many exporters, however, bucked the overall market mood, ending in positive
territory after taking a cue from a series of optimistic economic and earnings
reports in the United States.
Major tech exporters led the upward move. Industry heavyweight Samsung
Electronics rose 2.75 percent to 597,000 won and rival chipmaker Hynix
Semiconductor also gained 8.68 to 14,400, on the news that the global
semiconductor glut is clearing.
Top steelmaker POSCO rose 1.73 percent to 412,500 won and flat-panel maker LG
Display gained 0.96 percent to 31,6450 won, with its better-than-expected
earnings reports.
The local currency held steady at 1,332.00 won to the dollar as a morning-session
gain was offset by a fall in afternoon trading, dealers said.
Bond prices, which move inversely to yields, closed higher. The return on
three-year Treasuries fell 0.08 percentage point to 3.72 percent and the
benchmark yield on five-year government bonds lost 0.08 percentage point to 4.38
percent.
ygkim@yna.co.kr
(END)
