+ A

Market remains flat as shutdown ends in U.S.

Jan 29,2019
이미지뷰
Korea’s main bourse ended nearly flat Monday despite trading higher earlier in the session as blue-chip shares saw mixed trade, analysts said. The Korean won appreciated against the dollar.

The benchmark Kospi shed 0.43 points, or 0.02 percent, to finish at 2,177.30. Trading volume was moderate at 366 million shares worth 5.99 trillion won ($5.37 billion).

Analysts said the market was affected by mixed trade of blue-chip shares, with the fall being limited as investors were buoyed by the compromise reached in Washington to reopen the U.S. government, they added.

“Investors expressed concern over the slowing Chinese economy as the country announced that its industrial profit shed 1.9 percent on year in December,” Lee Won, a researcher at Bookook Securities said.

Foreign investors bought a net 354.5 billion won worth of stocks. Individuals sold a net 43.3 billion won worth of shares and institutional investors sold a net 301.1 billion won of stocks.

Market kingpin Samsung Electronics added 0.67 percent to close at 45,050 won, while No. 2 chipmaker SK Hynix slid 3.75 percent to 71,800 won. Samsung SDI lost 0.22 percent at 232,000 won.

Carmakers were also mixed, with auto parts maker Hyundai Mobis advancing 4.32 percent to 217,500 won, while top carmaker Hyundai Motor fell 1.56 percent to 126,500 won. Kia Motors decreased 2.52 percent to 34,850 won.

Samsung BioLogics decreased 0.25 percent to 402,000 won, while Celltrion rose 1.2 percent to 211,000 won. Hanmi Pharmaceutical added 0.12 percent, finishing at 432,500 won.

Shipbuilders traded higher, with Hyundai Heavy Industries rising 2.52 percent to 142,500 won and Samsung Heavy Industries gaining 5.01 percent at 8,390 won.

Mobile carriers ended higher as well. Top mobile carrier SK Telecom gained 1.30 percent to 272,500 won, and its smaller rival KT rose 0.17 percent to 29,300 won.

The secondary Kosdaq rose 2.88 points, or 0.4 percent, to end the session at 714.26.

The tech and bio-heavy index was lifted by foreign buying of pharmaceutical shares. The U.S. Nasdaq Composite Index rose 1.3 percent Friday.

The Korean won closed at 1,117.70 won against the dollar, down 3.60 won from the previous session’s close.

Bond prices ended lower. The yield on three-year bonds rose 0.8 points to 1.82 percent. The yield on 10-year bonds rose 1.4 basis points to 2.02 percent.


BY KIM HEYU, YONHAP [kim.heyu@joongang.co.kr]