SKorean shares outlook - Lower on Wall St's pullback |
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Published
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Wed, 01 Aug 2007 00:35
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SEOUL (Thomson Financial) - South Korean share prices are expected to open lower Wednesday, with investors discouraged by Wall Street's pullback Tuesday amid persistent concern about the US housing market.Record oil prices will add to the downward pressure, with oil prices surpassing 78.00 US dollars per barrel for the first time at the New York Mercantile Exchange Tuesday.Tongyang Investment Bank's Lee Hyun-Ju said: 'With Wall Street swinging back and forth sharply, it seems the local bourse has lost its sense of direction.'The market may get some support from South Korean export data due out in the morning here and from monthly data on sales by South Korean car makers.On Tuesday, the KOSPI index closed 26.56 points or 1.4 percent higher at the day's high of 1,933.27. The low for the day was 1,899.56.Institutions were net sellers of shares worth 86.6 billion won and foreign investors net sellers of 136.8 billion won-worth, while retail investors were net buyers of 137.2 billion won-worth.The yield on the three-year state bond closed down 0.05 percentage point at 5.22 percent and the yield on the three-year corporate bond finished down 0.04 percentage point at 5.64 percent.(1 US dollar= 919.3 won)eunkyung.seo@thomson.comes/jmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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NASDAQ
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1492.38 |
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1411.00 |
+64.00 (
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SKorean technology stocks close lower ahead of holiday tomorrow 