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Stock prices rise in Seoul
United Press International - August 11, 1997 05:35
%FINANCIAL %STKS %KOREA V%UPI P%UPI
SEOUL, Aug. 11 (UPI) - Prices on the Korea Stock Exchange have been
buoyed by a rise in the Japanese yen against the U.S. dollar.
Danny Lee of Jardine Fleming Securities Co. Ltd. says domestic
institutional and foreign investors have bought large-cap, export-
oriented shares.
The composite Korea Stock Price Index (KOSPI) Monday is up 4.23
points - 0.56 percent - to 765.07 points, after rising 8.83 points
Saturday.
The market has traded in a narrow range of 5.54 points - from an
opening low of 760.84 points to a high of 766.38 points.
Dealers report 37 shares have hit limit up while just 4 have struck
limit down, referring to an 8-percent limit set on intraday price
fluctuations.
Insurance, securities, fishing, mining and clothing shares have risen
while construction, fabricated metal, machinery, beverage and banking
shares have lost ground.
D.C. Choi of Ssangyong Investment and Securities Co. Ltd. says
shipbuilding stocks such as Samsung, Hyundai and Daewoo Heavy Industries
have risen on stronger overseas sales and rising prices.
SK Telecom is up 20,000 to 490,000 Korean won, Samsung Electronics
down 100 to 71,600, Pohang Iron and Steel (POSCO) even at 61,400,
Hyundai Motors up 300 to 25,500, Korea Electric Power Corp. (KEPCO) up
200 to 27,200, Daewoo Securities up 400 to 16,400, Korean Air even at
15,600, and Chohung Bank even at 5,260.
Trading volume of 35.07 million shares compares to 30.24 shares for
the half day Saturday.
Trading value of $661.60 million (591.34 billion won) compares to
$629.49 million (562.64 billion won).
Winners have topped losers 418 to 359 with 134 shares unchanged.
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Copyright 1997 by United Press International.
All rights reserved.
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