Slow shares rise above key 2,000 mark

Seoul shares rose on Wednesday to close back above the psychologically important 2,000 point level after strong demand at a Spanish debt auction calmed worries over the euro zone's financial health and rejuvenated risk appetite.
Samsung Electronics and other technology shares gained, buoyed by a jump in Apple shares, while shipyards outperformed.
Investors will now turn their focus to another test of confidence for Spain, the euro zone's fourth-largest economy, when the country auctions two- and 10-year government bonds on Thursday, while an IMF bailout expansion is also on the radar.
The Korea Composite Stock Price Index (KOSPI) climbed 0.97 percent to close at 2,004.53 points, after touching a nearly two-week intraday high of 2,014.95.
"The high participation by local banks in Spain's bond auction calmed worries that the country's financial system may be facing a serious liquidity crunch, and now the focus is on the IMF's progress in ironing out a deal for an expanded bailout mechanism," said Oh Seung-hoon, an analyst at Daishin Securities.
Spain sold a more-than-planned 3.2 billion euros ($4.21 billion) of 12- and 18-month bills on Tuesday, while yields on 10-year government bonds fell back under the psychologically significant sustainability threshold of 6 percent.
Shipyards outperformed, with Daewoo Shipbuilding & Marine Engineering jumping 6 percent while Samsung Heavy Industries rallied 5.7 percent.
The KOSPI 200 index rose 1.1 percent while the junior, tech-heavy KOSDAQ gained 0.97 percent.
Trading was choppy with turnover at its lowest in one month, with 378.4 million shares exchanging hands on the main bourse. Gaining shares beat decliners 449 to 358.