ID :
190843
Fri, 06/24/2011 - 11:37
Auther :
Shortlink :
https://oananews.org//node/190843
The shortlink copeid
Seoul shares jump 1.7 pct on big-cap exporters
SEOUL, June 24 (Yonhap) -- South Korean shares surged 1.7 percent on Friday as investors picked up blue-chip exporters amid easing worries over global economic uncertainties, analysts said. The local currency edged down against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) soared 34.95 points to 2,090.81. Trading volume was moderate at 291.2 million shares worth 8.03 trillion won (US$7.45 billion), with gainers outnumbering losers 605 to 221.
"Auto and tech shares, which had suffered losses due to worries of a global economic slowdown, gathered ground," said Han Chi-hwan, an analyst at Daewoo Securities Co.
"Uncertainties in Europe and the U.S. may worsen, but investors seem to believe they won't get extreme. Investors are slowly regaining their appetites," said Han.
On Thursday, Greece won the consent of a team of European Union and International Monetary Fund inspectors for its new five-year austerity plan, raising hopes its debt issue will improve.
Stocks gathered ground across the board, with techs fueling the climb. Market bellwether Samsung Electronics added 2.53 percent to 852,000 won, and Hynix Semiconductor, the world's No. 2 chipmaker, surged 5.88 percent to 27,900 won.
Automakers also gathered ground, with leading automaker Hyundai Motor rising 3.57 percent to 232,000 won.
Energy and transportation stocks closed mixed following the news that the International Energy Agency is planning to release emergency oil reserves on worries over global economic growth.
Energy companies were hit by the news as weak oil prices are generally expected to dent their profits. SK Innovation, the country's No. 1 crude refiner, slumped 4.36 percent to 197,500 won.
Transporters, however, advanced, with Korean Air Line jumping 4.31 percent to 70,200 won, and Hyundai Merchant Marine adding 2.93 percent to 31,650 won.
The local currency closed at 1,078.8 won to the greenback, down 1.9 won from Thursday's close, as importer demand for settlements slightly outweighed the impact from the KOSPI's rise, dealers said.
Bond prices, which move inversely to yields, closed slightly lower. The yield on three-year Treasuries added 0.03 percentage point to 3.71 percent and the return on the benchmark five-year government bonds also rose 0.03 percentage point to 3.97 percent.
mil@yna.co.kr
The benchmark Korea Composite Stock Price Index (KOSPI) soared 34.95 points to 2,090.81. Trading volume was moderate at 291.2 million shares worth 8.03 trillion won (US$7.45 billion), with gainers outnumbering losers 605 to 221.
"Auto and tech shares, which had suffered losses due to worries of a global economic slowdown, gathered ground," said Han Chi-hwan, an analyst at Daewoo Securities Co.
"Uncertainties in Europe and the U.S. may worsen, but investors seem to believe they won't get extreme. Investors are slowly regaining their appetites," said Han.
On Thursday, Greece won the consent of a team of European Union and International Monetary Fund inspectors for its new five-year austerity plan, raising hopes its debt issue will improve.
Stocks gathered ground across the board, with techs fueling the climb. Market bellwether Samsung Electronics added 2.53 percent to 852,000 won, and Hynix Semiconductor, the world's No. 2 chipmaker, surged 5.88 percent to 27,900 won.
Automakers also gathered ground, with leading automaker Hyundai Motor rising 3.57 percent to 232,000 won.
Energy and transportation stocks closed mixed following the news that the International Energy Agency is planning to release emergency oil reserves on worries over global economic growth.
Energy companies were hit by the news as weak oil prices are generally expected to dent their profits. SK Innovation, the country's No. 1 crude refiner, slumped 4.36 percent to 197,500 won.
Transporters, however, advanced, with Korean Air Line jumping 4.31 percent to 70,200 won, and Hyundai Merchant Marine adding 2.93 percent to 31,650 won.
The local currency closed at 1,078.8 won to the greenback, down 1.9 won from Thursday's close, as importer demand for settlements slightly outweighed the impact from the KOSPI's rise, dealers said.
Bond prices, which move inversely to yields, closed slightly lower. The yield on three-year Treasuries added 0.03 percentage point to 3.71 percent and the return on the benchmark five-year government bonds also rose 0.03 percentage point to 3.97 percent.
mil@yna.co.kr
