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Stock Price Regained 480

Posted September. 19, 2001 08:46,   


Despite the downfall of the New York share markets on Monday, Asian share markets including South Korea and Japan showed overall rebound.

The rebound at the Asian markets has been due to the New York market, which was not much worse than expected, and the U.S. Federal Reserve Banks` measures of lowering interest rates.

The main Korea Stock Exchange went up 16.17 points closing at 484.93 points. Kosdaq index rose 3.43 points closing at 49.48 points. Financial institutions and foreign investors made net-sales.

Tokyo stock market was boosted by the rebound in the Europe stock markets, and the Japan`s Central Bank began to rise due to the expectation that the interest rates might be lowered following the U.S. and the Europe. Although he average stock price index of Nikkei rose by 3.22 percent (306.08 yen) in the morning, it closed at 9,679.88, only 1.85 percent up (175.47 yen).

Stock markets in Hong Kong, Australia, and Singapore rebounded and continued to rise until the end of the day.

The New York market on Monday began to sink right after the opening of the market due to the pouring of the selling materials targeting the airline companies, it closed at 8,920.70, losing 684.81 points (-7.13 percent).

Meanwhile, the U.S. closed at 1296.9 won, 1.8 won down from the previous day. Although the exchange rate of yen against dollar was 118.07 yen in the Tokyo foreign exchange market, 1 yen up from the previous day, there was no big change.

Park Rae-Jeong ecopark@donga.comleej@donga.com