Seoul shares end 0.07 pct lower on auto, tech losses

(ATTN: ADDS bond yields at bottom)
By Lee Youkyung
SEOUL, Jan. 11 (Yonhap) -- South Korean stocks closed 0.07 percent lower Monday
as auto and tech exporters lost ground, with the Korean won's steep appreciation
against the U.S. dollar stoking concerns about their profits overseas, analysts
said.
Reversing earlier gains, the Korea Composite Stock Price Index (KOSPI) shed 1.14
points to 1,694.12. Volume was moderate at 399 million shares worth 6.77 trillion
won (US$6.05 billion) with losers leading gainers 397 to 393.
"Shares of tech and auto exporters were among the hardest hit by the won's steep
rise," said Hwang Keum-dan, an analyst at Samsung Securities. "The market was
clearly divided between shares that were likely to benefit from a strengthening
won and shares that were not."
Market leader Samsung Electronics lost 2.92 percent to 797,000 won while the
world's second-largest maker of liquid-crystal display panels, LG Display, sank
4.58 percent to 38,500 won.
Top automaker Hyundai Motor Co. declined 4.25 percent to 101,500 won and its
affiliate, Kia Motors Corp., shed 3.10 percent to 18,750 won.
Shipbuilders, however, finished higher as a string of reports they won overseas
orders fanned a rosy industry outlook for the year.
Hanjin Heavy Industries & Construction rose 1.84 percent to 24,900 won after
announcing it won a new order from Taiwan to build bulk carriers. Top shipbuilder
Hyundai Heavy Industries climbed 0.49 percent to 206,000 won.
The local currency closed at 1,119.90 won to the greenback, up 10.60 won from
Friday's close, as China's record imports in December boosted South Korea's
exports outlook, dealers said.
Bond prices, which move inversely to yields, closed higher. The yield on the
benchmark three-year Treasury note fell 0.09 percentage point to 4.27 percent,
and the return on five-year government bonds shed 0.05 percentage point to 4.86
percent.
ylee@yna.co.kr
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