In Heavy Trading Day, Markets Close Mixed

Share prices on the Korea Stock Exchange closed slightly higher Tuesday. The benchmark index rose half a percent on foreign buying in both the stock and futures markets.

The Korea Composite Stock Price Index was up 2.77 points to close at 568.15. The index rose as much as 1.7 percent in midday trading, led by gains in large blue-chip issues and financial stocks, but profit-taking by retail investors pared some of the gains in the final hour of trading.

Volume was heavy at 485 million shares valued at 2.22 trillion won ($1.76 billion). Advancing issues beat decliners 490 to 301, and 72 stocks ended unchanged. A total of 24 issues rose by the daily limit, while 10 shares fell by the limit.

"Investor sentiment was boosted by the overnight gains in the U.S. Nasdaq and the Nasdaq futures index," said an analyst at Daishin Securities Co.

Semiconductor issues led the day's gains, boosted by a three-day rally in U.S. chipmakers. Samsung Electronics Co. added 2.15 percent to 190,000 won, and Hyundai Electronics Industries Co. was up 1.73 percent to 3,520 won. Anam Semiconductor, a semiconductor-packaging firm, went up 2.47 percent to end at 4,150 won.

Other blue chips were also higher to support the index. Pohang Iron & Steel Co. gained 0.97 percent to 104,000 won, and LG Electronics Co. put on 1.45 percent to 14,000 won.

The Kosdaq market turned lower just one day after Monday's rebound as retail investors took profits. The composite index fell 0.80 points, or 1.07 percent, to 73.52. Volume was heavy at 413 million shares valued at 2.28 trillion won.

Most large-capitalized stocks were in negative territory. Haansoft sank 6.39 percent to 6,300 won, and Serome Technology shed 4.95 percent to 19,200 won.

KT Freetel rose 1.14 percent to 40,000 won, and Kookmin Credit Card Co. gained 3.02 percent to 32,450 won.

by Kim Hyun-chul