SKorean shares close lower on further foreign investor sell-off |
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Wed, 18 Jul 2007 07:48
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SEOUL (Thomson Financial) - South Korean share prices closed lower Wednesday, extending the market's correction for a second straight day, as foreign investors continued to pocket profits in the wake of the record breaking run-up on the KOSPI.A new record high on the Dow Jones Industrial Average overnight provided some early support, but the market then succumbed to profit taking, with selling led by POSCO, LG Philips LCD, shipbuilders and banks, all of which have posted solid gains recently.The KOSPI index closed down 18.81 points or 0.96 percent at 1,930.70.(1 US dollar = 916.10 SKorean won)eunkyung.seo@thomson.com-es/mbCOPYRIGHTCopyright 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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SKorean technology stocks close lower ahead of holiday tomorrow 