ID :
199037
Thu, 08/04/2011 - 04:09
Auther :
Shortlink :
https://oananews.org//node/199037
The shortlink copeid
Seoul shares turn lower after opening higher
SEOUL (Yonhap) - South Korean stocks started higher on Thursday but soon shifted to negative territory as overnight Wall Street rallies were not strong enough to boost investors' sentiment here, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 0.26 percent, or 5.35 points, to 2,060.91 in the first 15 minutes of trading.
Tech firms were bearish, with market bellwether Samsung Electronics dropping 1.2 percent and South Korea's second-biggest handset maker LG Electronics losing 0.26 percent.
In contrast, top carmaker Hyundai Motor gained 0.23 percent and the world's biggest shipyard Hyundai Heavy Industries rose 0.39 percent.
U.S. stocks edged up Wednesday on news reports that the Federal Reserve Board could consider a new round of stimulus to help the economy. The Dow Jones industrial average was up 0.25 percent and the Nasdaq Composite Index rose 0.89 percent.
The local currency was trading at 1,058.35 won to the U.S. dollar as of 9:15 a.m., up 2.05 won from Wednesday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 0.26 percent, or 5.35 points, to 2,060.91 in the first 15 minutes of trading.
Tech firms were bearish, with market bellwether Samsung Electronics dropping 1.2 percent and South Korea's second-biggest handset maker LG Electronics losing 0.26 percent.
In contrast, top carmaker Hyundai Motor gained 0.23 percent and the world's biggest shipyard Hyundai Heavy Industries rose 0.39 percent.
U.S. stocks edged up Wednesday on news reports that the Federal Reserve Board could consider a new round of stimulus to help the economy. The Dow Jones industrial average was up 0.25 percent and the Nasdaq Composite Index rose 0.89 percent.
The local currency was trading at 1,058.35 won to the U.S. dollar as of 9:15 a.m., up 2.05 won from Wednesday's close.
