Seoul's primary market rose for the second trading session mostly due to foreign and institutional buying,
although the trade value hit its lowest point so far this year. The Korea Composite Stock Price Index gained
11.01 points, or 1.5 percent, to close at 750.40.
Blue chips were up, with Samsung Electronics rising 0.8 percent to 426,500 won ($368). SK Telecom increased
1.8 percent to 171,500 won, while Kookmin Bank climbed 2.2 percent to 32,450 won and Posco gained
1.6 percent to 162,000 won. LG Electronics increased 1.2 percent after announcing a strong second quarter
performance andSsangYong Motorrose 2.4 percent. Also, with the monsoon rains ending and hot weather
forecast, shares of air conditioning manufacturers Century and Winix, as well as ice cream makers Lotte
Samkang Co. and Bingrae, went
up.
Trade volume was 268 million shares worth 1.34 trillion won. "Trade was very low, but foreign investors helped
boost the index," said Han Yo-seop, a researcher at Daewoo Securities.
The tech-loaded Kosdaq market, however, fell 1.75 points, or 0.5 percent, to 360.48 in slow trade as well.
Most digital content, game and Internet-related shares were strong. NHN rose 5.3 percent to 106,400 won.
Webzen, Mtekvision, Daum, and CJ Entertainment also gained. Neowiz, however, dropped 3.1 percent. Trade
volume was 293 million shares worth 428 billion won.
- Source from JooAng Daily (Jul 21, 2004) -
|
