ID :
21237
Thu, 09/25/2008 - 21:20
Auther :
Shortlink :
http://m.oananews.org//node/21237
The shortlink copeid
Seoul shares rise on recovering confidence
(ATTN: ADDS bond yields at bottom)
SEOUL, Sept. 25 (Yonhap) -- South Korean stocks finished higher Thursday for the fifth straight session as a recovery in investor confidence buoyed tech, finance
and other large-cap shares, analysts said. The local currency depreciated against
the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 5.65 points, or
0.38 percent, to end at 1,501.63, after dipping to the 1,460-level in the morning
on foreign selling. Volume was heavy at 412.74 million shares worth 4.68 trillion
won (US$4.93 billion), with gainers outpacing losers 499 to 316.
"The key index's rise definitely reflects a recovery in confidence in the local
bourse, with investors seemingly almost carefree about the U.S. Congress' debate
on the proposed $700 billion bail-out plan," said Lim Dong-min, an analyst at
Dongbu Securities.
Tech exporters and shipyard shares led the overall gains. Market heavyweight
Samsung Electronics rose 0.53 percent to 567,000 won and leading shipbuilder
Hyundai Heavy Industries jumped 2.15 percent to 285,000 won.
Securities and telecom stocks also gained moderately. Hyundai Securities climbed
3.4 percent to 12,150 won and top fixed-line operator KT added 1.23 percent to
41,000 won.
Construction and shipping stocks, however, prevented the key index from rising
further. Hyundai Engineering & Construction slid 2.12 percent to 69,100 won and
Hanjin Shipping lost 1.65 percent to 29,800 won.
On Wednesday, U.S. stocks closed mixed. The Dow Jones industrial average fell
0.27 percent while the tech-dominated Nasdaq composite index inched up 0.11
percent.
The local currency closed at 1,158.2 won to the dollar, down 3.7 won from
Wednesday's close, on increased greenback demand from importers for settlements,
dealers said.
Bond prices, which move inversely to yields, fell slightly. The return on
three-year Treasuries gained 0.02 percentage point to 5.93 percent and the
benchmark yield on five-year government bonds also rose 0.02 percentage point to
5.96 percent.
SEOUL, Sept. 25 (Yonhap) -- South Korean stocks finished higher Thursday for the fifth straight session as a recovery in investor confidence buoyed tech, finance
and other large-cap shares, analysts said. The local currency depreciated against
the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 5.65 points, or
0.38 percent, to end at 1,501.63, after dipping to the 1,460-level in the morning
on foreign selling. Volume was heavy at 412.74 million shares worth 4.68 trillion
won (US$4.93 billion), with gainers outpacing losers 499 to 316.
"The key index's rise definitely reflects a recovery in confidence in the local
bourse, with investors seemingly almost carefree about the U.S. Congress' debate
on the proposed $700 billion bail-out plan," said Lim Dong-min, an analyst at
Dongbu Securities.
Tech exporters and shipyard shares led the overall gains. Market heavyweight
Samsung Electronics rose 0.53 percent to 567,000 won and leading shipbuilder
Hyundai Heavy Industries jumped 2.15 percent to 285,000 won.
Securities and telecom stocks also gained moderately. Hyundai Securities climbed
3.4 percent to 12,150 won and top fixed-line operator KT added 1.23 percent to
41,000 won.
Construction and shipping stocks, however, prevented the key index from rising
further. Hyundai Engineering & Construction slid 2.12 percent to 69,100 won and
Hanjin Shipping lost 1.65 percent to 29,800 won.
On Wednesday, U.S. stocks closed mixed. The Dow Jones industrial average fell
0.27 percent while the tech-dominated Nasdaq composite index inched up 0.11
percent.
The local currency closed at 1,158.2 won to the dollar, down 3.7 won from
Wednesday's close, on increased greenback demand from importers for settlements,
dealers said.
Bond prices, which move inversely to yields, fell slightly. The return on
three-year Treasuries gained 0.02 percentage point to 5.93 percent and the
benchmark yield on five-year government bonds also rose 0.02 percentage point to
5.96 percent.
