Stock Trading and Other Things

Share index recovers to above 2 000 level

Summary: Korean stocks closed 1 73 percent higher as it recovered to the 2 000 point level yesterday with foreign investors increasing buying amid waning worries over the Libyan unrest analysts said The local currency rose against the U S dollar The benchmark Kospi jumped 34 02 points to 2 004 68 rising above the 2 000 mark for the first time since Feb 21 Trading volume was moderate at 330 5 million shares worth 6 04 trillion won $5 4 billion with gainers outnumbering losers 609 to 219 Foreigners resumed buying drove up the Kospi above the 2 000 mark said Samsung Securities Co analyst Kwak Joong bo It seems that investors jitters over the Libyan unrest and a possible oil supply cut are cooling down Minor falls may be seen following this week s two day surge but it is more likely that the upward trend will continue into next week said Kwak Tech firms finished sharply higher with Samsung Electronics adding 2 38 percent to 945 000 won and Hynix Semiconductor the world s No 2 memory chip maker rising 2 64 percent to 29 200 won The chip giant on Thursday announced plans to pay its first ever dividend to shareholders thanks to its all time high profit last year Financial firms gained on hopes that Korea s central bank may lift the key interest rate in a policy meeting on March 10 Shinhan Financial Group the country s No 2 financial services provider rose 4 28 percent to 50 000 won and Hana Financial Group the fourth largest financial group surged 5 95 percent to 47 200 won Korea Express added 5 74 percent to 110 500 won ahead of the deadline for submission of letters of intent for a stake in the country s top logistics firm The local currency closed at 1 114 6 won to the U S dollar up 5 3 won Yonhap Copyrights ? JoongangIlbo Jcube Interactive Inc All rights reserved Korean stocks closed 1 73 percent higher as it recovered to the 2 000 point level yesterday with foreign investors increasing buying amid waning worries over the Libyan unrest analysts said The local currency rose against the U S dollar The benchmark Kospi jumped 34 02 points to 2 004 68 rising above the 2 000 mark for the first time since Feb 21 Trading volume was moderate at 330 5 million shares worth 6 04 trillion won $5 4 billion with gainers outnumbering losers 609 to 219 Foreigners resumed buying drove up the Kospi above the 2 000 mark said Samsung Securities Co analyst Kwak Joong bo It seems that investors jitters over the Libyan unrest and a possible oil supply cut are cooling down Minor falls may be seen following this week s two day surge but it is more likely that the upward trend will continue into next week said Kwak Tech firms finished sharply higher with Samsung Electronics adding 2 38 percent to 945 000 won and Hynix Semiconductor the world s No 2 memory chip maker rising 2 64 percent to 29 200 won The chip giant on Thursday announced plans to pay its first ever dividend to shareholders thanks to its all time high profit last year Financial firms gained on hopes that Korea s central bank may lift the key interest rate in a policy meeting on March 10 Shinhan Financial Group the country s No 2 financial services provider rose 4 28 percent to 50 000 won and Hana Financial Group the fourth largest financial group surged 5 95 percent to 47 200 won Korea Express added 5 74 percent to 110 500 won ahead of the deadline for submission of letters of intent for a stake in the country s top logistics firm The local currency closed at 1 114 6 won to the U S dollar up 5 3 won Yonhap Copyrights ? JoongangIlbo Jcube Interactive Inc All rights reserved

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