The Korean won's rise against the U.S. dollar helped edge the Korea Composite Stock Price Index
down 2.13 points, or 0.2 percent, to close at 924.87 yesterday.Despite a good showing on Wall Street
on Wednesday, the stronger won and the growing possibility of the Chinese yuan's revaluation hurt the
Kospi, analysts said.
Blue chips were mixed. Samsung Electronics was up 0.3 percent to end at 492,000 won ($478), and LG
Electronics gained 1.3 percent. Kookmin Bank fell 1.1 percent, and Hynix Semiconductor lost 1.6
percent.
Some large exporters' shares were weak: Hyundai Motor fell 2.2 percent, and Posco dropped 1.9
percent.
SK Telecom fell 3.5 percent after it said it aims to post 10 trillion won in sales this year, which is less
than expected.
SsangYong Motor jumped 4.2 percent after it left its five-year debt workout program yesterday.
With the expectation of a stock market boom, brokerage shares gained. SK Securities jumped 4.1
percent, while Bridge Securities soared 11 percent. Volume was 500.5 million shares, worth 2.7 trillion
won. Advancers led decliners, 405 to 345. The Kosdaq also lost marginally, closing at 466.45, down
2.04 points, or 0.4 percent. Large-cap issues were mixed: Hanaro Telecom was down 0.3 percent and
NHN dropped 3.2 percent, while Asiana Airlines gained 4.2 percent. Volume was 663.7 million shares,
worth 2 trillion won. Decliners led advancers, 564 to 287.
- Source from JoongAng Daily (Jan 27, 2005) -
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