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Seoul shares end almost flat despite upbeat U.S. data
By KH디지털뉴스부공용Published : June 28, 2012 - 17:08
South Korean stocks closed almost unchanged Thursday as nagging eurozone concerns offset improved U.S. economic data, analysts said. The local currency rose against the U.S. dollar.
The Korea Composite Stock Price Index (KOSPI) gained 1.53 points, or 0.08 percent, to finish at 1,819.18. Trading volume was light at 305 million shares worth 3.10 trillion won (US$2.68 billion) with losers just outpacing gainers 398 to 383.
"Investors sat on the sidelines amid a lack of upward momentum," said Kim Joo-young, an analyst at Bookook Securities Co.
"The slight gain represents a technical rebound from recent falls." Investors remained jittery ahead of a European summit scheduled for Thursday to Friday, which is unlikely to produce a game-changing result as Germany opposes the use of a more flexible bailout option for troubled eurozone nations.
U.S. manufacturing goods sales rose in May for the first time in three months and home purchase contracts hit a seven-month high.
Retail investors scooped up shares worth a net 15.1 billion won on bargain-hunting, while foreigners extended their selling streak to five sessions, unloading a net 66.2 billion won.
Market behemoth Samsung Electronics inched up 0.09 percent to 1,168,000 won and leading automaker Hyundai Motor climbed 1.30 percent to 234,000 won.
Shipping companies and airlines also drove up shares on higher freight rates. Hanjin Shipping advanced 1.80 percent to 14,150 won and Korean Air Lines added 0.90 percent to 50,300 won.
Leading polysilicon maker OCI jumped 2.78 percent to 221,500 won on the back of strong foreign buying. Major power equipment maker Doosan Heavy Industries & Construction gained 2.01 percent to 55,800 won on brighter prospects for new orders.
In contrast, construction firms finished bearish, with industry leader Hyundai Engineering & Construction shedding 1.91 percent to 61,600 won.
The local currency ended at 1,154.20 won against the greenback, up 2.0 won from Wednesday's close, thanks to the KOSPI's rise, dealers said.
Bond prices, which move inversely to yields, closed marginally higher. The yield on three-year Treasuries inched down 0.01 percentage point to 3.26 percent and the return on the benchmark five-year government bonds fell 0.01 percentage point to 3.38 percent. (Yonhap News)
The Korea Composite Stock Price Index (KOSPI) gained 1.53 points, or 0.08 percent, to finish at 1,819.18. Trading volume was light at 305 million shares worth 3.10 trillion won (US$2.68 billion) with losers just outpacing gainers 398 to 383.
"Investors sat on the sidelines amid a lack of upward momentum," said Kim Joo-young, an analyst at Bookook Securities Co.
"The slight gain represents a technical rebound from recent falls." Investors remained jittery ahead of a European summit scheduled for Thursday to Friday, which is unlikely to produce a game-changing result as Germany opposes the use of a more flexible bailout option for troubled eurozone nations.
U.S. manufacturing goods sales rose in May for the first time in three months and home purchase contracts hit a seven-month high.
Retail investors scooped up shares worth a net 15.1 billion won on bargain-hunting, while foreigners extended their selling streak to five sessions, unloading a net 66.2 billion won.
Market behemoth Samsung Electronics inched up 0.09 percent to 1,168,000 won and leading automaker Hyundai Motor climbed 1.30 percent to 234,000 won.
Shipping companies and airlines also drove up shares on higher freight rates. Hanjin Shipping advanced 1.80 percent to 14,150 won and Korean Air Lines added 0.90 percent to 50,300 won.
Leading polysilicon maker OCI jumped 2.78 percent to 221,500 won on the back of strong foreign buying. Major power equipment maker Doosan Heavy Industries & Construction gained 2.01 percent to 55,800 won on brighter prospects for new orders.
In contrast, construction firms finished bearish, with industry leader Hyundai Engineering & Construction shedding 1.91 percent to 61,600 won.
The local currency ended at 1,154.20 won against the greenback, up 2.0 won from Wednesday's close, thanks to the KOSPI's rise, dealers said.
Bond prices, which move inversely to yields, closed marginally higher. The yield on three-year Treasuries inched down 0.01 percentage point to 3.26 percent and the return on the benchmark five-year government bonds fell 0.01 percentage point to 3.38 percent. (Yonhap News)
