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Print Print edition: 2011-03-23

Seoul shares up

Published Updated

Seoul shares ended higher on Tuesday helped by rallies in refiners and automakers including Hyundai Motor, with reports Japan was slowly regaining control over a damaged nuclear plant helping sentiment. The Korea Composite Stock Price Index ended up 0.51 percent at 2,013.66 points. The KOSPI 200 June futures index finished up 1.40 points at 267.05.
The KOSPI 200 spot index rose 1.16 points to 266.05. The junior Kosdaq market ended up 0.25 percent at 507.80. Uncertainties including the turmoil in Libya continued to weigh on investor sentiment, and the main index will face resistance near its 60-day moving average of around 2,030 points, said Samsung Securities analyst Kwak Joong-bo.
Foreign investors were buyers of a net 235.9 billion won ($209.7 million) worth of stocks, picking up shares for a fifth consecutive session. Automakers rallied, with Hyundai Motor ending up 4.4 percent, rising for a third straight session. Kia Motors surged 3.6 percent.
Refiners advanced, helped by continued strength in oil prices. Shares in SK Innovation, the country's No 1 crude oil refiner, climbed 4.2 percent and S-Oil advanced 2.5 percent. Chemical firms likewise rose amid positive earnings expectations. LG Chem gained 2.2 percent and Honam Petrochemical surged 5.3 percent.

Copyright Reuters, 2011

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