Seoul shares end up 0.27 pct on tech gains

(ATTN: ADDS bond yields at bottom)
By Lee Youkyung
SEOUL, Jan. 12 (Yonhap) -- South Korean stocks finished 0.27 percent higher
Tuesday as gains by tech blue chips and energy utilities offset losses in banks
and brokerages, analysts said. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 4.52 points to
1,698.64. Volume was moderate at 378 million shares worth 5.15 trillion won
(US$4.58 billion) with losers outnumbering gainers 477 to 313.
"A weakened won lent support to the large-cap exporters," said Kim Byung-yeon, an
analyst at Woori Investment & Securities. "But institutional and program selling
limited wider gains."
Tech shares closed higher as a rebound in the dollar halted the local currency's
steep rise, easing concerns about their overseas profits. Market leader Samsung
Electronics finished 1.51 percent up at 809,000 won and LG Electronics climbed
1.36 percent to 112,000 won as LG Group unveiled a record size investment plan.
Electricity and gas companies gained substantial ground as a nationwide cold snap
boosted demand for power. The state-run Korea Electric Power Corp. rose 2.15
percent to 35,650 won.
Retailers were among the bright spots on expectations that consumer confidence
will recover. Retail giant Lotte Shopping rose 2.67 percent to 327,000 won and
Hyundai Department Store climbed 1.93 percent to 105,500 won.
Hanwha Securities tumbled 7.12 percent to 9,520 won on speculation that the
brokerage may sell new shares to fund taking over Prudential Investment &
Securities, the local brokerage unit of Prudential Financial.
Snapping a seven-session of winning streak, the local currency closed at 1,123.60
won to the greenback, down 3.80 won from Monday's close, as investors cut
holdings of the local currency to take profits, dealers said.
Bond prices, which move inversely to yields, closed higher. The yield on the
benchmark three-year Treasury note fell 0.02 percentage point to 4.25 percent,
and the return on five-year government bonds shed 0.05 percentage point to 4.81
percent.
ylee@yna.co.kr
(END)