Kospi up for fourth day with new record high
Boosted by retail sales, the benchmark Kospi index rose for the fourth straight trading session, recording yet another record high. The Kospi climbed 2.21 points, or 0.1 percent, to close at 1,605.77 yesterday.Investors snapped up financial and auto shares, which were somewhat shunned in the recent bull run, said Kim Young-gak, an analyst at Hyundai Securities Co.
Hyundai Motor group shares rose on individual and foreign purchases. Hyundai Motor gained 3.0 percent to 64,600 won ($69.90), Kia Motors climbed 3.6 percent, and Glovis shot up 13.7 percent.
Samsung’s IT affiliates were comparatively strong, helped along by foreign purchases of Samsung Electronics. Although Samsung Electronics remained unchanged, Samsung Electro-Mechanics rose 0.3 percent, Samsung SDI gained 2.7 percent, and Samsung Techwin added 1.4 percent.
Other IT shares, however, drooped. Hynix Semiconductor lost 0.8 percent, and LG Electronics was down 1.3 percent.
Financial shares traded in positive territory. Top lender Kookmin Bank rose 2.2 percent, and Shinhan Financial Group climbed 2.1 percent after Citigroup chose it as a top pick among local lenders.
Trading volume was 468.5 million shares, valued at 5.0 trillion won. Advancers were behind decliners by 372 to 388.
The Kosdaq, meanwhile, fell after three days of gains, dropping 4.14 points, or 0.6 percent, to 703.83. The market rose early in the day, but sank in the afternoon profit taking.
NHN continued its rise for a fourth day, adding another 1.6 percent, but other Internet shares were not as lucky. Daum was down 2.9 percent, CJ Internet fell 0.2 percent, and Interpark dropped 1.0 percent. Volume was 543.6 million shares worth 1.8 trillion won. Winners fell behind losers, 380 to 530.
By Wohn Dong-hee Staff Writer [wohn@joongang.co.kr]
with the Korea JoongAng Daily
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