Ssangyong Motor

The Korea Composite Stock Price Index dropped for a second day yesterday, despite good news about

a slightly lower won and a rally in the U.S. stock markets. The Kospi dropped 1 percent, or 8.81 points,

to end the day at 867.03.

"Despite the rally on the U.S. stock market, the domestic market ended on a weak note where

institutional investors sold, and foreign investors were in effect selling," said Park Seok-hyeon, an

analyst with Kyobo Securities Co. Foreign investors did buy a large number ofSsangYong Motor

shares, however.

There were 408 decliners and 329 advancers. The volume was 356 million shares and the transactions

were valued at 1.8 trillion won ($1.7 billion).

Technology shares fell yesterday as foreign investors sold. Samsung Electronics shed 9,500 won to

454,000 won, its first fall in the last three days. Bank shares all fell, and those of Hana Bank and Korea

Exchange Bank declined by more than 3 percent.

Shares of automakers and shipbuilders rose as the won's value declined.  Fisheries companies rose on

news that a suspected case mad cow disease was found in New York; Hansung Enterprise Co. rose by

the daily limit of 15 percent, closing at 4,390 won. Hynix Semiconductors gained more than 2 percent

on the news that United States violated World Trade Organization rules by levying tariffs on its products.
The Kosdaq declined by 0.03 points, ending at 372.53 points.

- Source from JoongAng Daily (Nov 20, 2004) -