Slight gains as indexes rebound in Japan, ChinaSeoul markets were marginally higher yesterday in tune with a recovery by global markets.
The Kospi rose 0.95 points, or 0.1 percent, before closing at 1,427.88.
“Reversing earlier losses in a choppy session, the main bourse turned positive after the key indexes of Japan and China rebounded,” said Kim Jung-hyun, an analyst at Goodmorning Shinhan Securities.
Blue chips were jumbled.
Samsung Electronics went up 0.5 percent, ending the day at 589,000 won ($623.41).
SK jumped 3.3 percent backed by foreign buying. LG.Philips LCD rose 2.4 percent on news that Philips would withdraw from the plasma display panel market.
In contrast, steelmaker Posco dropped 1.4 percent and top lender Kookmin Bank shed 0.7 percent.
Hyundai Mipo Dockyard, the world’s fourth-largest shipyard, advanced 1.4 percent after announcing that it had secured a 720 billion won order from a Middle Eastern firm for 10 car and truck carriers.
Doosan Heavy Industries kept its upward momentum for the third straight trading day, rising 2.0 percent.
Hyundai Merchant Marine Co. climbed 2.4 percent after it said it will increase its holdings in Hyundai Securities Co., heightening expectations of mergers and acquisitions. The country’s biggest shipping line said it will spend as much as 140 billion won to buy additional shares in Hyundai Securities. Hyundai Securities jumped 6.4 percent.
Advancers trumped decliners 413 to 319. Trade volume was 294 million shares valued at 2.5 trillion won
The junior Kosdaq continued its upward drive, rising 6.69 points, or 1.1 percent, before closing at 631.39. Hanarotelecom and Asiana shot up 5.5 percent, but CJ Home Shopping fell 1.0 percent.
Winners beat losers 564 to 344. Trade volume was 760 million shares worth 2.2 trillion won.
By Wohn Dong-hee Staff Writer [email@example.com]