중앙데일리

Financial shares struggle as both indexes decline

Mar 24,2007
Korean stocks slipped yesterday as investors dumped blue chips, especially financial shares.
The benchmark Kospi lost 1.15 points, or 0.1 percent, to close at 1,447.38.
“The local market underwent a technical reversal after recent advances,” said Park Seok-hyun, an analyst at Kyobo Securities. “Investors unloaded financial shares for profit taking.”
Blue chips struggled, and tech shares posted losses. Samsung Electronics shed 0.3 percent to 580,000 won ($619) and its chipmaking rival, Hynix Semiconductor, fell 0.6 percent. LG.Philips LCD went down 0.3 percent.
Financial shares suffered losses with the nation’s No. 2 financial services company, Shinhan Financial Group, falling 3.3 percent. Leading lender Kookmin Bank slipped 0.6 percent, and Woori Financial Group lost 0.8 percent.
State power monopoly Korea Electric Power Corp. declined 1.1 percent on rising oil prices.
Leading oil refiner SK Corp. went down 3 percent despite a report that it plans to invest 560 billion won in a gas project in Peru.
Among other major shares, Posco lost 0.1 percent, SK Telecom fell 2.6 percent, and Hyundai Motor slipped 0.9 percent.
Shipbuilding shares enjoyed a solid day on expectations that they will soon receive a large number of orders.
Hyundai Heavy Industries gained 0.9 percent, Hyundai Mipo Dockyard picked up 2.6 percent, and Daewoo Shipbuilding and Marine Engineering nudged up 0.3 percent.
Traded volume was 270.7 million shares for 2.8 trillion won. Decliners edged out advancers 396 to 366.
The secondary Kosdaq index dropped 4.88 points, or 0.8 percent, to close at 640.89.
Traded volume was 681.8 million shares worth 2.1 trillion won. Decliners outpaced advancers 543 to 346.


By Yoo Jee-ho Staff Writer [jeeho@joongang.co.kr]



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