Ships, steel and securities lead surge to another high

Home > >

print dictionary print

Ships, steel and securities lead surge to another high

The main index set another new high yesterday, but the Kosdaq market fell, ending a string of seven consecutive days in positive territory.
The Kospi closed at 1716.24, an increase of 15.33 points, or 0.9 percent. At one point, institutional and retail investors pulled the index to 1,745.39 before a late sell-off.
Samsung Electronics and Hynix Semiconductor also rose on the common belief that memory chip prices have hit bottom. Samsung gained 3.9 percent, ending at 556,000 won ($598). Hynix soared 5.4 percent to finish at 33,000 won.
Steel shares continued to climb. Posco increased 2 percent to 455,000 won. Hyundai Steel added 1.8 percent, closing at 56,500 won.
Shipbuilding and engineering shares were split. Samsung Heavy Industries hit the daily ceiling of a 15 percent increase after news surfaced that the shipbuilder was buying its own stock, finishing at 46,950 won. STX Shipbuilding jumped 6.3 percent to 47,550 won. However, Hyundai Heavy Industries, Hyundai Mipo Dockyard and Doosan Heavy Industries & Construction fell more than 1 percent.
The bullish market pushed up securities shares. Daewoo, Samsung, Hyundai, Woori Investment, Mirae Asset and Daishin securities all rose between 3 and 7 percent.
Despite the Kospi’s increase, decliners overwhelmed advancers, 455 to 330. The trading volume was 608.2 million shares worth 9.2 trillion won.
The Kosdaq market ended at 742.61, declining 5.26 points, or 0.7 percent. NHN rose for the fifth straight day, but other Internet shares were weak. NHN added 2.3 percent, closing at 181,000 won. Daum shed 3.3 percent, Interpark fell 3.4 percent, Neowiz plunged 7.5 percent and CJ Internet declined 3.7 percent. Losers beat gainers, 689 to 245. A total of 594 million shares changed hands, with a trading value of 2.4 trillion won.

By Limb Jae-un Staff Writer [jbiz91@joongang.co.kr]
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)