ID :
36510
Fri, 12/19/2008 - 16:45
Auther :
Shortlink :
http://m.oananews.org//node/36510
The shortlink copeid
Seoul stocks close higher on chipmakers` gain
(ATTN: ADDS bond yields at bottom)
SEOUL, Dec. 19 (Yonhap) -- South Korea's bourse closed 0.43 percent higher Friday as a spike in semiconductor prices helped boost shares of local chipmakers, analysts said. The South Korean won gained against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 5.06 points to
close at 1,180.97. Volume was heavy at 677.14 million shares worth 5.31 trillion
won (US$4.12 billion). Losers, however, outnumbered gainers 439 to 394.
"Rising prices of semiconductors prompted investors to think the IT sector may
have hit bottom," said Bae Sung-young, an analyst at Hyundai Securities.
"The government's bank recapitalization scheme also helped the local index shrug
off the chains of Wall Street losses," Bae said.
The price of most traded 'DDR2 1Gb 128Mx8 667MHz' chips soared 12 percent from a
day earlier, the first gain in almost 6 months, according to Taiwanese dealer
Dramexchange.
The price hikes briefly sent leading chipmakers higher, with Samsung Electronics,
the world's top producer and local bellwether, shooting up 4.59 percent to
489,500 won. Hynix Semiconductor, the world's second-ranked chipmaker, climbed
4.8 percent to end at 8,520 won.
Seoul also pledged on Thursday to launch a 20 trillion won (US$15.5 bln) fund to
recapitalize cash-strapped local lenders and to encourage them to increase
lending to businesses.
U.S. shares tumbled Thursday on dismal corporate outlooks and slumping oil
prices. The Dow Jones industrial average shed 2.49 percent and the tech heavy
Nasdaq fell 1.71 percent
Local telecom shares added ground with top mobile carrier SK Telecom rising 1.87
percent to 218,000 won with KT, the biggest fixed-line operator, advancing 1.81
percent to 39,400 won. Internet portal giant NHN also jumped 7.57 percent to
135,000 won.
Steel makers, however, were dented a day after POSCO announced the first
production cut in its history, citing slumping demand and economic woes. The
world's fourth-largest steel giant shed 1.15 percent to 388,800 won and Hyundai
Steel Mill lost 2.22 percent to 39,700 won.
The local currency gained for a fifth consecutive day as foreign investors
increased holdings of local shares, dealers said. The won ended at 1,290 won to
the dollar, up 2 won from Thursday's close.
Bond prices, which move inversely to yields, ended mixed. The return on
three-year Treasuries shed 0.01 percentage point to 3.81 percent while the
benchmark yield on five-year government bonds closed steady at 4.16 percent.
pbr@yna.co.kr
(END)
SEOUL, Dec. 19 (Yonhap) -- South Korea's bourse closed 0.43 percent higher Friday as a spike in semiconductor prices helped boost shares of local chipmakers, analysts said. The South Korean won gained against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 5.06 points to
close at 1,180.97. Volume was heavy at 677.14 million shares worth 5.31 trillion
won (US$4.12 billion). Losers, however, outnumbered gainers 439 to 394.
"Rising prices of semiconductors prompted investors to think the IT sector may
have hit bottom," said Bae Sung-young, an analyst at Hyundai Securities.
"The government's bank recapitalization scheme also helped the local index shrug
off the chains of Wall Street losses," Bae said.
The price of most traded 'DDR2 1Gb 128Mx8 667MHz' chips soared 12 percent from a
day earlier, the first gain in almost 6 months, according to Taiwanese dealer
Dramexchange.
The price hikes briefly sent leading chipmakers higher, with Samsung Electronics,
the world's top producer and local bellwether, shooting up 4.59 percent to
489,500 won. Hynix Semiconductor, the world's second-ranked chipmaker, climbed
4.8 percent to end at 8,520 won.
Seoul also pledged on Thursday to launch a 20 trillion won (US$15.5 bln) fund to
recapitalize cash-strapped local lenders and to encourage them to increase
lending to businesses.
U.S. shares tumbled Thursday on dismal corporate outlooks and slumping oil
prices. The Dow Jones industrial average shed 2.49 percent and the tech heavy
Nasdaq fell 1.71 percent
Local telecom shares added ground with top mobile carrier SK Telecom rising 1.87
percent to 218,000 won with KT, the biggest fixed-line operator, advancing 1.81
percent to 39,400 won. Internet portal giant NHN also jumped 7.57 percent to
135,000 won.
Steel makers, however, were dented a day after POSCO announced the first
production cut in its history, citing slumping demand and economic woes. The
world's fourth-largest steel giant shed 1.15 percent to 388,800 won and Hyundai
Steel Mill lost 2.22 percent to 39,700 won.
The local currency gained for a fifth consecutive day as foreign investors
increased holdings of local shares, dealers said. The won ended at 1,290 won to
the dollar, up 2 won from Thursday's close.
Bond prices, which move inversely to yields, ended mixed. The return on
three-year Treasuries shed 0.01 percentage point to 3.81 percent while the
benchmark yield on five-year government bonds closed steady at 4.16 percent.
pbr@yna.co.kr
(END)
