Seoul stocks trade unmoved late morning

SEOUL, Jan. 7 (Yonhap) -- South Korean stocks traded almost unchanged late
Thursday morning, as shipbuilder gains offset falls by electronics makers,
analysts said.

Paring opening falls, the benchmark Korea Composite Stock Price Index (KOSPI)
inched up 1.04 point, or 0.06 percent, to trade at 1,706.36 as of 11:20 a.m.
Foreign and institutional investors lapped up shipmakers and sea carriers on
rebounding shipping rates and reviving vessel orders.
World leading shipbuiders including Hyundai Heavy Industries advanced as much as
10 percent.
Memory-chip giant Samsung Electronics lost ground, however, despite the firm's
report of a preliminary operating profit of 3.7 trillion won (US$3.3 billion) in
the fourth quarter. The firm returned to profit last quarter from a loss a year
earlier.
The local currency was traded at 1,133.50 won to the U.S dollar as of 11:20 a.m.,
up 2.70 won from Wednesday's close.
pbr@yna.co.kr
(END)

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