To: sea_biscuit who wrote (27785 ) 12/13/1997 6:40:00 AM From: Glenn D. Rudolph Respond to
Stocks prices climb Seoul
United Press International - December 12, 1997 22:22
%FINANCIAL %STKS %KOREA V%UPI P%UPI
SEOUL, Dec. 13 (UPI) - Prices on the Korea
Stock Exchange have risen on buying spurred
by rumors the government plans to postpone
expiration of current corporate loans by two
months to prevent further bankruptcies
resulting from liquidity shortage.
I.S. Park of Ssangyong Securities Co. Ltd. in
Seoul said domestic investors aggressively
purchased banking shares on rumors of
raising the domestic ownership limit of
banking shares from 4 percent.
The composite Korea Stock Price Index
(KOSPI) Saturday is up 9.14 points - 2.61
percent - to 359.82 points, after falling 26.69
points Friday.
Dealers reported 160 shares hit limit up while
420 struck limit down, referring to an 8-
percent limit on intraday price fluctuations.
On the week the KOSPI fell 75.91 points, or 17.
42 percent.
The market traded in a wide range of 20.23
points from an early low of 344.73 to a high of
364.96.
Casey Choi of W.I. Carr Ltd. in Seoul said
investors purchased corporate bonds of large
conglomerates, boosting the benchmark
three-year corporate bond yield 0.82 percent
to 25.50 percent.
SK Telecom was down 31,500 to 389,000
Korean won, Samsung Electronics up 2,100 to
42,700, Pohang Iron and Steel (POSCO) up 3,
600 to 50,000, Hyundai Motors up 1,100 to 18,
100, Korea Electric Power Corp. (KEPCO) up
1,000 to 14,500, Daewoo Securities up 530 to 7,
220, Korean Air up 530 to 7,250, and Chohung
Bank up 240 to 3,340.
Trading volume for the half day was heavy at
69.17 million shares, compared to 43.94
million traded for the full-day session Friday.
Trading value of $219.06 million (380.64 billion
won) compared to $186.47 million (320.69
billion won).
Losers topped winners 543 to 322 with 44
shares unchanged.
--
Copyright 1997 by United Press
International. All rights reserved. --
