ID :
73227
Fri, 07/31/2009 - 16:59
Auther :
Shortlink :
https://www.oananews.org//node/73227
The shortlink copeid
(LEAD) Seoul stocks end 1.47 pct higher on economic recovery hopes
(ATTN: ADDS Bond yields at bottom)
By Lee Youkyung
SEOUL, July 31 (Yonhap) -- South Korean shares closed 1.47 percent higher Friday
as upbeat economic data boosted investor sentiment, analysts said. The local
currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 22.55 points to a
new yearly record of 1,557.29. Volume was moderate at 458 million shares worth
7.17 trillion won (US$5.84 billion) with gainers outpacing losers 517 to 288.
"The country's June industrial output beat analysts' forecasts, boosting investor
sentiment," said Hwang Bin-ah, an analyst at Kyobo Securities Co. "Foreign
investors continued buying large caps, sending the key index higher."
Earlier in the day, the National Statistical Office reported South Korea's
industrial output fell a lower-than-expected 1.2 percent in June from a year
earlier, raising hopes for an economic recovery.
Large-cap blue chips fared well. Market leader Samsung Electronics added 1.4
percent to 724,000 won. Top steel maker POSCO gained 4.04 percent to 502,000 won
as foreign investors scooped up shares on a positive sector forecast.
Brokerages also jumped on a recent bull run. Samsung Securities advanced 4.49
percent to 76,800 won and Daewoo Securities climbed 3.74 percent to 23,600 won.
Top chemicals maker LG Chem soared 10.14 percent to 152,000 won on upbeat
expectations its investment in glass sheets for liquid-crystal displays (LCD)
will help expand earnings.
Embattled Ssangyong Motor skyrocketed 14.95 percent to a yearly high of 2,345
won, despite reports that the resumed management-labor dialogue to end a
crippling strike made little progress during the day.
The local currency ended at a yearly high of 1,228.5 won against the greenback,
up 8.3 won from Thursday's close, as overseas investors bought local shares for a
13th session, dealers said.
Bond prices, which move inversely to yields, closed sharply lower. The return on
three-year Treasuries added 0.11 percentage point to 4.26 percent and the
benchmark yield on five-year government bonds gained 0.09 percentage point to
4.76 percent.
ylee@yna.co.kr
(END)
By Lee Youkyung
SEOUL, July 31 (Yonhap) -- South Korean shares closed 1.47 percent higher Friday
as upbeat economic data boosted investor sentiment, analysts said. The local
currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 22.55 points to a
new yearly record of 1,557.29. Volume was moderate at 458 million shares worth
7.17 trillion won (US$5.84 billion) with gainers outpacing losers 517 to 288.
"The country's June industrial output beat analysts' forecasts, boosting investor
sentiment," said Hwang Bin-ah, an analyst at Kyobo Securities Co. "Foreign
investors continued buying large caps, sending the key index higher."
Earlier in the day, the National Statistical Office reported South Korea's
industrial output fell a lower-than-expected 1.2 percent in June from a year
earlier, raising hopes for an economic recovery.
Large-cap blue chips fared well. Market leader Samsung Electronics added 1.4
percent to 724,000 won. Top steel maker POSCO gained 4.04 percent to 502,000 won
as foreign investors scooped up shares on a positive sector forecast.
Brokerages also jumped on a recent bull run. Samsung Securities advanced 4.49
percent to 76,800 won and Daewoo Securities climbed 3.74 percent to 23,600 won.
Top chemicals maker LG Chem soared 10.14 percent to 152,000 won on upbeat
expectations its investment in glass sheets for liquid-crystal displays (LCD)
will help expand earnings.
Embattled Ssangyong Motor skyrocketed 14.95 percent to a yearly high of 2,345
won, despite reports that the resumed management-labor dialogue to end a
crippling strike made little progress during the day.
The local currency ended at a yearly high of 1,228.5 won against the greenback,
up 8.3 won from Thursday's close, as overseas investors bought local shares for a
13th session, dealers said.
Bond prices, which move inversely to yields, closed sharply lower. The return on
three-year Treasuries added 0.11 percentage point to 4.26 percent and the
benchmark yield on five-year government bonds gained 0.09 percentage point to
4.76 percent.
ylee@yna.co.kr
(END)
