Kospi, Kosdaq advance with Posco going strong
Korea stock market indexes finished the session with higher numbers yesterday, with investors buying blue chips and steel shares, said analysts.The main Kospi index rose 3.46 points, or 0.24 percent, to 1,453.23.
“After trading in a narrow range, the main index turned positive on the back of foreign buying of futures,” said Kim Joong-hyun, an analyst at Goodmorning Shinhan Securities.
Posco, along with other steel stocks, led the rise, advancing 1.3 percent on a positive industry outlook.
The top steel maker has been adding numbers to its stock price since the start of the year.
Top lender Kookmin Bank rose 0.9 percent on expectations of strong earnings, and Korea’s No. 2 lender, Shinhan Financial Group, added 1.7 percent.
The Industrial Bank of Korea, a state-run lender, lost 0.3 percent on speculation that the government may sell its stake.
Tech blue chips traded in negative territory.
Samsung Electronics fell 0.7 percent to 580,000 won ($618). Hynix Semiconductor, the world’s second largest chip maker, shed 0.6 percent.
Volume was moderate with 255.6 million shares worth 3 trillion won traded on the main stock market.
Winners outpaced losers 433 to 298.
The junior Kosdaq closed its session with a 0.32 point, or 0.05 percent rise, to 641.20.
NHN, the operator of the portal Naver, lost 1 percent, injuring the Kosdaq.
Megastudy, which topped 1 trillion won in terms of company value Monday, shed 0.4 percent, pulling down the company value to less than 1 trillion won.
More than 736 million shares worth 1.9 trillion won changed hands.
Losers outnumbered winners 449 to 437.
By Hwang Young-jin Staff Writer [yhwang@joongang.co.kr]
with the Korea JoongAng Daily
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