중앙데일리

Kospi reaches record as fisheries gain ground

July 06,2007
Another trading session closed with a record broken on the stock markets. The main Kospi finished the market at 1847.79, rising 9.38 points, or 0.5 percent. Retail investors and institutional buyers took profits, while foreign investors continued to buy for four consecutive days.
“After advancing to a new high, the main index pared earlier rises shortly before the market closed as Chinese equities tumbled over 4 percent,” said Kim Young-gak, an analyst at Hyundai Securities.
“Institutions, which bought shares for more than eight sessions, engaged in a selling spree to take profits from recent gains and sent the market lower,” Kim said.
Most fishery issues jumped to their daily 15 percent limit. Oyang Corp., under a management rights dispute between the son of the late founder and the rest of the family, hit the ceiling, extending the eight-day rise. Sajo, Daerim Corp., Dongwon Fisheries and Silla Co. all joined Oyang.
Tech shares were popular with foreign investors amid expectations of improved earnings in the second half backed by a rebound in semiconductor sales. Tech blue chip Samsung Electronics gained 2.3 percent to 591,000 won ($641) on rising demand for flash memory with the introduction of the iPhone. Hynix Semiconductor rose 2.7 percent.
Financials lost ground after Yoon Jeung-hyun, chairman of the Financial Supervisory Commission, said the government may allow the creation of additional security firms for the first time in five years to spur competition.
Volume was heavy at 519.5 million shares worth 7.8 trillion won with losers outnumbering winners, 397 to 372.
The tech-heavy Kosdaq turned to red finishing the five-day rally at 802.87, 1.15 points, or 0.1 percent lower. More than 479 million shares worth 2.2 trillion won were traded. Losers outnumbered winners, 576 to 354.


By Hwang Young-jin Staff Writer[yhwang@joongang.co.kr]


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