중앙데일리

Local market slides on eve of U.S. data release

Sept 06,2007
Seoul stock markets stumbled for a second-straight day on heavy program selling as investors hold their breath a day before the U.S. government announces major economic data, including the jobless rate. The benchmark Kospi declined 9.15 points, or 0.5 percent, to close at 1,865.59.
Samsung Electronics, Korea’s largest listed firm by value, lost 1 percent to close at 569,000 won ($607.7). Posco, the nation’s largest steelmaker, shed 1.6 percent. Hyundai Heavy Industries gained 2.9 percent.
Hyundai Motor, Korea’s largest automaker, gained 0.7 percent as it looked like labor-management negotiations may avert a major strike for the first time in 10 years.
But shares of wireless operators dropped on concerns the government will put more pressure on the companies to slash their customer service fees. SK Telecom, the nation’s largest wireless operator, dropped 1.2 percent, and No. 2 KTF lost 1.8 percent.
Other tech shares fared well, helped by the strong performance of U.S. tech firms on the previous day. LG.Philips LCD rose 1.8 percent, and LG Electronics climbed 3.2 percent.
Hyundai Mipo Dockyard surged 5.9 percent after the company won yet another huge contract, worth $870 million. It has received $5.1 billion worth of orders to build 94 ships so far this year, breaking its annual record and this year’s target of $4.4 billion.
Trading volume was 373.9 million shares, worth 5.6 trillion won. Losers beat gainers, 509 to 284.
The tech-heavy Kosdaq slipped 2.22 points, or 0.3 percent, to end at 773.54.
Megastudy, a maker of study aids for high school students, climbed 5.6 percent on heavy purchases by foreign investors as Korea’s private education market continues a rapid expansion.
Trading volume was 671.1 million shares, worth 2.2 trillion won. Decliners led advancers, 551 to 373.


By Jung Ha-won Staff Writer [hawon@joongang.co.kr]



dictionary dictionary | 프린트 메일로보내기 내블로그에 저장