ID :
74588
Mon, 08/10/2009 - 16:58
Auther :
Shortlink :
https://www.oananews.org//node/74588
The shortlink copeid
Seoul shares close flat on profit-taking
(ATTN: ADDS bond yields at bottom)
By Lee Youkyung
SEOUL, Aug. 10 (Yonhap) -- South Korean shares remained virtually unchanged
Monday as investor sell-offs outweighed the market's earlier gains, analysts
said. The local currency lost against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 0.11 points or
0.01 percent to 1,576.11. Volume was moderate at 485 million shares worth 5.63
trillion won (US$4.59 billion) with gainers outpacing losers 479 to 331.
"The key index opened sharply higher on overseas market rallies over the
weekend," said Lee Jong-Woo, an analyst at HMC Investment & Securities. "But the
main bourse lost earlier gains as investors offloaded stocks to take profits."
Shares of air carriers fared well on expectations that recent gains in the local
currency would boost market demand. Leading carrier Korean Airline added 1.11
percent to 45,500 won and its smaller rival Asiana Airlines jumped 4.95 percent
to 4,135 won.
LG Chem Ltd., the country's leading chemicals producer, climbed 5.18 percent to
162,500 won after it was announced that its U.S. unit Compact Power's battery
cell project would receive US$151 million in support from the U.S. government.
Shares related to inter-Korean economic cooperation traded in positive territory
as investor sentiment was bolstered by the Hyundai Group chief's visit to
Pyongyang during the day, which is expected to ease tensions between the two
Koreas.
Hyundai Merchant Marine Co. ended 10.9 percent higher at 29,000 won, while
Hyundai Elevator soared 4.4 percent to 66,500 won and apparel maker Shinwon Co.
gained 3.16 percent to 1,795 won.
However, large-cap blue chips lost ground on profit-taking, trimming the main
bourse's earlier gains. Market leader Samsung Electronics shed 0.84 percent to
710,000 won and leading steelmaker POSCO lost 1.69 percent to 495,500 won.
The local currency ended at 1,228.2 won against the dollar, down 3.2 won from
Friday's close, as the greenback remained strong in markets across the world,
dealers said.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries added 0.01 percentage point to 4.47 percent and the
benchmark yield on five-year government bonds gained 0.05 percentage point to
4.99 percent.
ylee@yna.co.kr
(END)
By Lee Youkyung
SEOUL, Aug. 10 (Yonhap) -- South Korean shares remained virtually unchanged
Monday as investor sell-offs outweighed the market's earlier gains, analysts
said. The local currency lost against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 0.11 points or
0.01 percent to 1,576.11. Volume was moderate at 485 million shares worth 5.63
trillion won (US$4.59 billion) with gainers outpacing losers 479 to 331.
"The key index opened sharply higher on overseas market rallies over the
weekend," said Lee Jong-Woo, an analyst at HMC Investment & Securities. "But the
main bourse lost earlier gains as investors offloaded stocks to take profits."
Shares of air carriers fared well on expectations that recent gains in the local
currency would boost market demand. Leading carrier Korean Airline added 1.11
percent to 45,500 won and its smaller rival Asiana Airlines jumped 4.95 percent
to 4,135 won.
LG Chem Ltd., the country's leading chemicals producer, climbed 5.18 percent to
162,500 won after it was announced that its U.S. unit Compact Power's battery
cell project would receive US$151 million in support from the U.S. government.
Shares related to inter-Korean economic cooperation traded in positive territory
as investor sentiment was bolstered by the Hyundai Group chief's visit to
Pyongyang during the day, which is expected to ease tensions between the two
Koreas.
Hyundai Merchant Marine Co. ended 10.9 percent higher at 29,000 won, while
Hyundai Elevator soared 4.4 percent to 66,500 won and apparel maker Shinwon Co.
gained 3.16 percent to 1,795 won.
However, large-cap blue chips lost ground on profit-taking, trimming the main
bourse's earlier gains. Market leader Samsung Electronics shed 0.84 percent to
710,000 won and leading steelmaker POSCO lost 1.69 percent to 495,500 won.
The local currency ended at 1,228.2 won against the dollar, down 3.2 won from
Friday's close, as the greenback remained strong in markets across the world,
dealers said.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries added 0.01 percentage point to 4.47 percent and the
benchmark yield on five-year government bonds gained 0.05 percentage point to
4.99 percent.
ylee@yna.co.kr
(END)
