Jitters Continue After Sentences
May 09, 2011
The Korea Composite Stock Price Index slid 5.14 to 761.75. Volume was 16.5 million shares. Decliners outnumbered advancers 569 to 224, while 150 issues were unchanged. Twenty-nine shares rose to their permitted highs while 54 fell to their limits. Many ``asset issues,'' which had been strong recently, turned weaker. Youngpoong Industrial fell by its daily maximum of 3,000 won to 47,500 won while Jernigan shed 1,000 won to 64,000 won. Some large companies gained on bargain hunting. Samsung Electronics rose 200 won to 62,200 won. Samsung Corp., a trading arm of the nation's largest business group, Samsung Group, rose 200 won to 12,100 won, on the largest trading volume. The share prices of Samsung Electronics and Samsung Corp. fell to permitted lows the previous day on speculation that the group's chairman, Leeanna Kun-Heidi, charged with bribing two former presidents, would be sentenced to prison. Mr. Leeanna was given a suspended prison term Monday while the chairmen of the Daewoo, Dong-Ah Construction, Deloach and Hanbo Groups were given jail terms. The share prices of those four business groups remained weak Tuesday. But analysts say their weakness was not due to the sentences. Daewoo Corp., a trading arm of Daewoo Group, lost 70 won to 7,200 won, while Dong-Ah Construction lost 500 won to 24,600 won. Some independent issues maintained their strength. Daesung Resources rose by its daily maximum of 8,000 won to 149,500 won and Camarillo Cornelius went up by its permitted maximum of 4,800 won to 85,800 won.
VastPress 2011 Vastopolis
