ID :
95346
Thu, 12/17/2009 - 03:41
Auther :
Shortlink :
https://www.oananews.org//node/95346
The shortlink copeid
Seoul shares end down 0.1 pct on concerns about rate decision
(ATTN: ADDS bond yields at bottom)
By Lee Youkyung
SEOUL, Dec. 16 (Yonhap) -- South Korean stocks closed 0.1 percent lower Wednesday
as investors took a breather ahead of a key rate decision from the U.S. Fed,
analysts said. The local currency declined against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) inched down 1.61 points
to 1,664.24, snapping a five-day winning streak. Volume was thin at 363 million
shares worth 4.55 trillion won (US$3.9 billion) with gainers leading losers 395
to 366.
"The market was subdued with most sectors trading in a tight range," said Park
Seung-jin, an analyst at Samsung Securities. "Investors were reluctant to place
big bets before they hear from the Federal Reserve about the economy."
Top chemical maker LG Chem sank 2.56 percent to 228,500 won on a brokerage note
that its fourth-quarter earnings are expected to fall short of market forecasts.
Financial issues finished lower due to overnight losses on Wall Street. Top
financial firm KB Financial Group slid 0.32 percent to 62,200 won and Korea
Exchange Bank fell 2.01 percent to 14,600 won.
The country's smallest automaker, Ssangyong Motor Co., plunged 2.95 percent to
3,780 won as investors cut shares ahead of a court decision on Thursday over
whether to approve its turnaround plan or liquidate the carmaker.
Leading mobile phone operator SK Telecom Co., however, rose 0.85 percent to
177,000 won as local brokerages said SK's purchase of a stake at a local credit
card unit would increase its profits.
The local currency closed at 1,164.9 won to the greenback, down 3.4 won from
Tuesday's close, as falls in U.S. stock markets and uncertainty about the U.S.
Fed's rate decision increased demand for safer assets.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries advanced 0.07 percentage point to 4.25 percent, and the
benchmark yield on five-year government bonds rose 0.04 percentage point to 4.72
percent.
ylee@yna.co.kr
(END)
By Lee Youkyung
SEOUL, Dec. 16 (Yonhap) -- South Korean stocks closed 0.1 percent lower Wednesday
as investors took a breather ahead of a key rate decision from the U.S. Fed,
analysts said. The local currency declined against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) inched down 1.61 points
to 1,664.24, snapping a five-day winning streak. Volume was thin at 363 million
shares worth 4.55 trillion won (US$3.9 billion) with gainers leading losers 395
to 366.
"The market was subdued with most sectors trading in a tight range," said Park
Seung-jin, an analyst at Samsung Securities. "Investors were reluctant to place
big bets before they hear from the Federal Reserve about the economy."
Top chemical maker LG Chem sank 2.56 percent to 228,500 won on a brokerage note
that its fourth-quarter earnings are expected to fall short of market forecasts.
Financial issues finished lower due to overnight losses on Wall Street. Top
financial firm KB Financial Group slid 0.32 percent to 62,200 won and Korea
Exchange Bank fell 2.01 percent to 14,600 won.
The country's smallest automaker, Ssangyong Motor Co., plunged 2.95 percent to
3,780 won as investors cut shares ahead of a court decision on Thursday over
whether to approve its turnaround plan or liquidate the carmaker.
Leading mobile phone operator SK Telecom Co., however, rose 0.85 percent to
177,000 won as local brokerages said SK's purchase of a stake at a local credit
card unit would increase its profits.
The local currency closed at 1,164.9 won to the greenback, down 3.4 won from
Tuesday's close, as falls in U.S. stock markets and uncertainty about the U.S.
Fed's rate decision increased demand for safer assets.
Bond prices, which move inversely to yields, closed lower. The return on
three-year Treasuries advanced 0.07 percentage point to 4.25 percent, and the
benchmark yield on five-year government bonds rose 0.04 percentage point to 4.72
percent.
ylee@yna.co.kr
(END)
