ID :
80968
Mon, 09/21/2009 - 20:25
Auther :
Shortlink :
https://www.oananews.org//node/80968
The shortlink copeid
Seoul shares end 0.25 pct lower on institutional selling
By Kim Young-gyo
(ATTN: ADDS bond yields at bottom)
SEOUL, Sept. 21 (Yonhap) -- South Korean stocks closed 0.25 percent lower Monday
as institutional investors continued their selling streak for a third session,
analysts said. The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) declined 4.21 points to
1,695.5. Volume was moderate at 510.82 million shares worth 5.44 trillion won
(US$4.52 billion), with losers outpacing gainers 405 to 393.
"The key index underwent some fatigue due to sharp gains in recent sessions. A
buying spree by foreign investors also slowed," said Oh Tae-dong, an analyst at
Taurus Securities.
Shares fluctuated in volatile trading early in the session, but the index was
sent down by institutional sell-offs, analysts said.
Foreign investors bought a total of 184.3 billion won in shares, extending their
buying spree for a 12th session as they were encouraged by South Korea's
inclusion in the Financial Times Stock Exchange (FTSE) advanced market category,
effective as of Monday. But that was not enough to pull the market higher,
analysts said.
Large-cap tech, automaker and financial losses led the decline. Market bellwether
Samsung Electronics dropped 0.99 percent to 798,000 won and top carmaker Hyundai
Motor shed 1.93 percent to 106,500 won.
Most financial shares also traded in negative territory. Top financial services
company Woori Financial Group shed 0.59 percent to 16,850 won.
Steel and shipbuilding shares closed higher with top steelmaker POSCO gained 0.98
percent to 516,000 won, as investors expected their exports will improve amid
signs of a global economic recovery.
The local currency ended at 1,204.4 won against the greenback, up 3.4 won from
Friday's close, as foreign investors snapped up local shares, dealers said.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries gained 0.06 percentage point to 4.43 percent and the
benchmark yield on five-year government bonds rose 0.07 percentage point to end
at 4.84 percent.
ygkim@yna.co.kr
(END)
(ATTN: ADDS bond yields at bottom)
SEOUL, Sept. 21 (Yonhap) -- South Korean stocks closed 0.25 percent lower Monday
as institutional investors continued their selling streak for a third session,
analysts said. The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) declined 4.21 points to
1,695.5. Volume was moderate at 510.82 million shares worth 5.44 trillion won
(US$4.52 billion), with losers outpacing gainers 405 to 393.
"The key index underwent some fatigue due to sharp gains in recent sessions. A
buying spree by foreign investors also slowed," said Oh Tae-dong, an analyst at
Taurus Securities.
Shares fluctuated in volatile trading early in the session, but the index was
sent down by institutional sell-offs, analysts said.
Foreign investors bought a total of 184.3 billion won in shares, extending their
buying spree for a 12th session as they were encouraged by South Korea's
inclusion in the Financial Times Stock Exchange (FTSE) advanced market category,
effective as of Monday. But that was not enough to pull the market higher,
analysts said.
Large-cap tech, automaker and financial losses led the decline. Market bellwether
Samsung Electronics dropped 0.99 percent to 798,000 won and top carmaker Hyundai
Motor shed 1.93 percent to 106,500 won.
Most financial shares also traded in negative territory. Top financial services
company Woori Financial Group shed 0.59 percent to 16,850 won.
Steel and shipbuilding shares closed higher with top steelmaker POSCO gained 0.98
percent to 516,000 won, as investors expected their exports will improve amid
signs of a global economic recovery.
The local currency ended at 1,204.4 won against the greenback, up 3.4 won from
Friday's close, as foreign investors snapped up local shares, dealers said.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries gained 0.06 percentage point to 4.43 percent and the
benchmark yield on five-year government bonds rose 0.07 percentage point to end
at 4.84 percent.
ygkim@yna.co.kr
(END)
