Seoul shares ended up 0.8 percent after volatile trade on Tuesday, lifted by shipbuilders and financials, but falls in technology plays like Samsung Electronics dented upside momentum. The Korea Composite Stock Price Index finished up 16.05 points at 1,996.32 points, hovering near its 20-day moving average of 1,990.
The KOSPI 200 March futures index finished up 2.35 points at 263.40. The KOSPI 200 spot index rose 1.89 points to 263.33. The junior Kosdaq market ended up 1.2 percent at 524.99. Bargain hunting following substantial falls in the previous session buoyed the market, lifting the main index closer to 2,000 points, analysts said. Citi lowered its mid-year KOSPI target to 2,050 to 2,150 points from the previous range of 2,200 to 2,300 points, citing oil price rises.
Samsung Electronics shares continued trading weakly despite posting their biggest daily percentage loss in nearly 16 months in previous session, weighed by a 2.7 percent fall in the US Philadelphia semiconductor index. Shares in Samsung Electronics slipped 0.77 percent to 899,000 won, posting a fresh 3-month low. Its 12-month forward price earnings multiple stood at around 8.7, compared with its Japanese peer Sony's around 20, Thomson Reuters Starmine data showed. Hynix Semiconductor lost 0.9 percent. Shares in Shinhan Financial Group rose 1.8 percent and Samsung Life Insurance advanced 2.3 percent.
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