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Barunson keeps climbing after ‘Parasite’ wins

Feb 14,2020
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Stocks closed slightly lower Thursday, paring earlier increases as investors cashed in recent gains. The won fell slightly against the dollar.

The Kospi dipped 5.24 points, or 0.24 percent, to close at 2,232.96. Trading volume was moderate at 629 million shares worth 7.96 trillion won ($6.73 billion), with losers outnumbering gainers 581 to 258.

The index opened higher, gaining 0.59 percent in the first 15 minutes of trading.

The advance followed overnight gains on Wall Street that came on growing confidence that the economic impact of the Wuhan coronavirus outbreak will likely be limited.

“The number of confirmed cases released by Hubei Province today may be interpreted to demonstrate the seriousness of the Covid-19 virus in China,” HI Investment & Securities analyst Park Sang-hyun said, referring to the World Health Organization’s name for the new virus.

So far, Korea has reported 28 confirmed cases of the novel coronavirus, unchanged since Tuesday.

Institutions dumped a net 328 billion won while individuals offloaded a net 4 billion won. Foreigners, on the other hand, scooped up a net 277 billion won, ending their three-day selling streak.

Large cap shares closed mixed.

Samsung Electronics added 0.33 percent to 60,700 won while chipmaker SK hynix jumped 2 percent to 102,000 won.

Automaker Hyundai Motor plunged 2.21 percent, with its smaller affiliate Kia Motors slipping 0.96 percent. Hyundai Mobis, an auto part maker within Hyundai Group dipped 1.44 percent, reaching 239,000 won.

Shares of Barunson E&A, the production company behind Oscar-winning “Parasite,” continued their winning streak, adding 29.88 percent and reaching 4,955 won. Its smaller affiliate Barunson also saw aggressive gains, surging 29.88 percent in the Kosdaq market to close at 5.760 won.

Among losers, Woori Financial Holdings inched down 0.48 percent, Naver shed 0.27 percent and Shinhan Bank shed 1.43 percent closing at 37,900 won.

The local currency closed at 1,182.80 won to the dollar, down 3.30 won from the previous session’s close.

The secondary Kosdaq was up 1.02 points, or 0.15 percent, to close at 687.61.

Bond prices, which move inversely to yields, closed mixed. The yield on three-year bonds lost 2.3 basis points to 1.276 percent, while the return on the benchmark 10-year government bond added 1.9 basis points to reach 1.63 percent.

BY KANG JAE-EUN, YONHAP [kang.jaeeun@joongang.co.kr]