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South Korean stocks rebound on bargain buying

SEOUL : South Korean stocks rebounded Thursday as bargain hunting led by institutions helped claw back the morning's los
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By Syed Murtaza Gheblehzadeh
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sk-stock-marketSEOUL: South Korean stocks rebounded Thursday as bargain hunting led by institutions helped claw back the morning's losses.

The benchmark Korea Composite Stock Price Index (Kospi) rose 0.74 percent to 1,819.53 points around 12:10 (03:10 GMT).

The gains came after the market slumped four percent on opening after a heavy sell off in Europe and Wall Street amid concerns over the global economy.

Shares rose across the board but financials remained in negative territory after a warning that a number of French banks could be in danger of having their credit ratings downgraded due to fears over their debt levels.

 

Copyright AFP (Agence France-Presse), 2011

 

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