South Korean shares edge up on earnings hopes; won dips

Sun Mar 29, 2015 11:03pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

By Yeawon Choi
    SEOUL, March 30 (Reuters) - South Koran shares edged up on
Monday, led by securities companies on hopes of stronger
    The Korea Composite Stock Price Index (KOSPI) rose
0.3 percent to 2,026.05 points by 0255 GMT. Foreigners were net
buyers of 30 billion won ($27.13 million) worth of shares,
reversing two straight selling sessions.
    "Low oil prices and low interest rates are providing the
momentum for improvement in profits at the manufacturing
sector," said Kim Joong-won, an analyst at Meritz Securities.
    The sub-index for brokerage houses rose 2.1 percent
to 2,240.61, with Eugene Investment and Securities 
jumping 7.1 percent and Golden Bridge Investment and Securities
 7.3 percent.
    The South Korean won  was down 0.2 percent
at 1,105.7 per dollar, compared with the previous close of
1,103.3, on profit-taking after gains for the past two weeks.
    June futures on three-year treasury bonds ticked
down 0.01 point to 109.32 as of 0255 GMT.
                       0255 GMT     Prev close
 Dollar/won            1,105.7        1,103.3
 Yen/won            9.2681/730         9.2534
 *KTB futures           109.32         109.33
 KOSPI                2,026.05       2,019.80
 * Front-month futures on three-year treasury bonds 

 (Editing by Choonsik Yoo & Kim Coghill)