The Kospi suffered a correction after yesterday’s gains
Seoul’s stock market closed the day today with a moderate decline after investors decided to take profits after yesterday’s bullish session.
The benchmark Kospi fell 8.02 points, or 0.39 percent, to 2031.74 units in a session in which they moved 4,390 million dollars, while the technological Kosdaq shrank 2.18 points, to 0.42 percent, to 519.56 integers.
Today investors were tempted to take advantage of the profits reaped in the Kospi yesterday, which grew more than one point prior driven by a boom on Wall Street, and showed a moderate trend towards the sale, spurred by the latest data from the U.S. .
The Federal Reserve Chairman Ben Bernanke said yesterday that the labor market of the world’s largest economy remains fragile despite recent signs of improvement, indicating that the agency will keep interest rates near zero to short term.
In today’s session, the benchmark market, Samsung Electronics fell 0.69 percent, while technological rival LG Electronics tumbled 4.3 percent and screen maker LG Display did a 4.9 per cent.
In the steel sector POSCO, the third largest steelmaker in the world, saw its shares fall 0.78 percent, and its competitor Hyundai Steel was left by 0.6 percent at the end of the session.
On the other side of the coin, Hyundai Heavy Industries, the country’s leading shipbuilder, rose 0.76 percent and Daewoo Shipbuilding & Marine Engineering gained 0.92 percent.
The automaker Hyundai Motor was up 2.88 percent and its affiliate Kia Motors was up by 2.75 percent.
The local currency lost 1.3 units against the dollar, which traded at 1,135.5 won at the end of the session.
Category: Stock Market Trading
