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Prices rise to end week in Seoul
United Press International - August 09, 1997 00:43
%FINANCIAL %STKS %KOREA V%UPI P%UPI
SEOUL, Aug. 9 (UPI) - Prices on the Korea Stock Exchange have risen
in a second straight day of institutional blue chip buying.
Norman Youn of Coryo Securities Corp. says securities issues have led
the market.
The composite Korea Stock Price Index (KOSPI) Friday is up 8.83
points - 1.17 percent - to 760.84 points, after rising 6.66 points
Friday.
On the week, the KOSPI was up 30.41 points, or 4.16 percent.
The market has traded in a wide range of 11.50 points - from a low of
753.31 points to a high of 764.81 points.
Dealers report 63 shares have hit limit up while 7 have struck limit
down, referring to an 8-percent limit set on intraday price
fluctuations.
Traders said the banking sector did well but blue chips were the big
story among institutional bargain hunters.
SK Telecom is up 6,000 to 470,000 Korean won, Samsung Electronics up
at 62,000, Pohang Iron and Steel (POSCO) up 800 to 61,400, Hyundai
Motors up 700 to 25,900, Korea Electric Power Corp. (KEPCO) down 400 to
27,000, Daewoo Securities up 1100 to 16,000, Korean Air down 100 to 15,
600, and Chohung Bank up 250 to 5,260.
Trading volume of 30.24 million for the half day compares to 33.97
million shares Friday.
Trading value of $630.56 million (562.64 billion) compares to $629.83
million (562.31 billion won).
Winners have topped losers 451 to 315 with 129 shares unchanged.
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Copyright 1997 by United Press International.
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