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Print Print edition: 2011-03-25

Seoul shares gain

Published Updated

Seoul shares rose on Thursday helped by firm gains in auto plays including Hyundai Motor ahead of its earnings report and as foreign investor buying continued for a seventh consecutive session. The Korea Composite Stock Price Index ended up 1.22 percent at 2,036.78 points. The KOSPI 200 June futures index finished up 3.05 points at 270.05.
The KOSPI 200 spot index rose 3.26 points to 268.93. The junior Kosdaq market ended up 0.69 percent at 513.70.
Foreign investors were buyers of a net 259.3 billion won ($231.2 million) worth of stocks in what has become the longest buying streak since October last year.
South Korean food and beverage makers rallied amid expectations their exports to Japan may rise as the country grapples with radiation contamination issues.
Shares in Nong Shim, a manufacturer of instant noodles and bottled water, rallied 14.8 percent.
CJ Corp, a food conglomerate, jumped 4.5 percent. Shares in Hyundai Motor rose 4.2 percent on a rosy outlook for its first-quarter earnings, which are expected to beat last year's strong figures.
Hyundai Motor's operating profit for the first quarter is expected at 803.1 billion won ($716.1 million), according to Thomson Reuters' I/B/E/S data, up 14.3 percent from a year ago.

Copyright Reuters, 2011

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