중앙데일리

Correction proves brief as Kospi climbs again

July 20,2007
Following two days of corrections, Seoul stocks rebounded yesterday, a recovery largely spurred by more than sufficient liquidity, according to analysts. The Kospi was up 7.2 points, or 0.4 percent, to close at 1,937.9.
“The bellwether index, which fluctuated throughout the session from profit-taking foreign investors, managed to gain ground from institutional and retail purchases,” said Kim Young-gak, an analyst at Hyundai Securities.
Samsung Electronics slid 0.6 percent to 636,000 won ($692.60). Its shares skyrocketed 6.4 percent on July 13 on rumors that billionaire investor Carl Icahn might be planning a hostile takeover, although Samsung later denied it. Hynix Semiconductor, the world’s second-largest maker of computer memory chips, lost 0.4 percent, and leading display maker LG.Philips LCD was down 1.3 percent.
Top steelmaker Posco gained 1.5 percent after declining for two straight sessions, while the world’s No. 1 shipbuilder, Hyundai Heavy Industries, shed 1.1 percent. Samsung Heavy Industries, the second-largest shipbuilder in the world, dropped 2.3 percent. Doosan Heavy Industries, another leading shipbuilder and plant manufacturer, dipped 3.7 percent. Among construction firms, Hyundai Engineering and Construction picked up 2.1 percent.
Financial shares were bullish. Kookmin Bank shot up 3.5 percent, Shinhan Financial Group advanced 2.4 percent and Woori Financial Group was up 0.8 percent. SK Telecom, the top mobile service carrier, gained 1.4 percent and Hyundai Motor was up 0.8 percent.
Traded volume was 575.8 million shares worth 6.9 trillion won. Advancers outnumbered decliners, 425 to 358.
The secondary Kosdaq closed at 819.32, edging up 0.4 points, or 0.1 percent. Total traded volume was 550.1 million shares, valued at 2.1 trillion won, with losing shares edging winners, 461 to 459.


By Seo Ji-eun Staff Writer [spring@joongang.co.kr]



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