중앙데일리

Investors shake China worries; Kospi up 1.3%

Apr 21,2007
Seoul markets rose yesterday as investors dismissed concerns over China’s possible efforts to cool its economy. The Kospi stepped up 19.42 points, or 1.3 percent, to 1533.08.
“Despite worries over China’s possible tightening, the key index gained ground on a gain in the key U.S. stock index. The local bourse seemed to focus more on corporate earnings since it only had a brief correction from the China-related worries,” said Kang Moon-sung, an analyst at Korea Investment & Securities.
Technology chips were mixed. Samsung Electronics rose 0.7 percent to 573,000 won ($618) and Hynix Semiconductor went up 0.5 percent. However, LG Electronics on Thursday reported its biggest quarterly loss in four years on falling television-screen prices and dropped 1.6 percent.
Posco gained 2.2 percent after an Indian government official said the company is close to getting the land it needs for its delayed $12 billion steel project in the country.
SK Networks closed down 10.5 percent at 34,200 won on news that its first-quarter net profit fell 11.78 percent from a year ago.
Top lender Kookmin Bank advanced 0.8 percent. Brokerage shares were also up, with Daewoo Securities rising 3.5 percent.
Automobile shares, however, fell like the April rains. Top automaker Hyundai Motor fell 1.7 percent and its affiliate Kia Motors shed 4.9 percent.
Local currency finished up 1.3 won from the previous day at 927.50 as offshore investors unloaded the greenback.
Trade volume was 388 million shares worth 4.3 trillion won. Advancers led decliners 580 to 200.
The junior Kosdaq rose 8.71 points, or 1.3 percent, to 691.56. Most sectors were up, except for pharmaceutical shares and freight shares.
Winners beat losers 597 to 298. Trade volume was 787.6 million shares worth 2.1 trillion won.


By Wohn Dong-hee Staff Writer [wohn@joongang.co.kr]



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