Share Price Recovers 670 Points

Share price jumped and recovered 670 points first for last 7 days. It was due to the recoveries in stock markets of US, Japan, Europe etc, and improvement of Korean chain index by Moody`s, US credit assessment institute.

At 15th, Korean Composite Stock Index (KSCI) increased by 20.80 points (3.19%) compared to the previous day and closed at 672.95 points. KSCI also increased by 0.96% and closed at 48.01% with recovering 48 points first for last 5 days.

Foreigners were at net selling position with 122.5 billion won in stock market, 6.1 billion won in KOSDAQ and 259.0 billion won (6,118 cases) for KOSPI 200 Futures. The items foreigners were at selling position such as LG Chem (4.88%), Kookmin Bank (2.68%), SK (5.63%), Daelim Industrial Co. (3.58%), etc increased largely. Due to the increase of As US Philadelphia Semiconductor Index by 7.95%, Samsung Electronics (5.29%), Anam Semiconductor (5.18%) increased sharply. SK Telecom (5.68%) and KT (6.38%) agreed to exchange shares at equal price and Korea Tobacco & Ginseng Corp included MSCI (Morgan Stanley Index) also increased. In KOSDAQ, Humax (9.14%), KTF (6%) NCSOFT (2.78%), etc increased. At that day, KSCI overcame ‘5 days Moving Average (658.23)’ and ‘20days Moving Average’ concurrently. So additional increase of share price was expected.

Chan-Sun Hong hcs@donga.com