Seoul stocks close up 0.21 pct on eased financial woes

(ADDS bond yields at bottom)
SEOUL, May 11 (Yonhap) -- South Korean stocks ended up 0.21 percent on Monday as
investor sentiment was lifted by eased financial woes, analysts said. The local
currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.03 points to
1,415.16. Volume was heavy at 668.43 million shares worth 6.9 trillion won
(US$5.57 billion), with winners outpacing losers 478 to 329.
"Expectations are growing that the economy is nearing bottom with more favorable
signs coming from the U.S. financial sector," said Lee Seung-woo, an analyst at
Daewoo Securities.
Foreigners and retail investors were net buyers on the Seoul bourse, with their
net purchases amounting to about 500 billion won.
Tech exporters benefited most on expectations that a global economic recovery
would lead to increased demand.
Display giant LG Display Co. advanced 1.75 percent to 31,950 won. Chipmaker Hynix
Semiconductor rose 2.16 percent to 14,200 won on expectations that the memory
chip industry is recovering.
Financials also gathered ground. KB Financial Group rose 0.88 percent to 45,950
won, and Hana Financial Group added 4.91 percent to 27,800 won.
The local currency finished at 1,237.9 won against the dollar, up 9.1 won from
Friday's close, as foreign investors sold the greenback to buy shares, dealers
said.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries rose 0.03 percentage point to 3.93 percent, and the
benchmark yield on five-year government bonds added 0.03 point to 4.61 percent.
ygkim@yna.co.kr
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