Poor Outlook Weakens Index
May 03, 2011
The Korea Composite Stock Price Index lost 4.79 to 789.12, the lowest since July 23, 2008 Volume was at 17.2 million shares valued at 340.4 billion won. Decliners led gainers 572 to 240, with 133 ending unchanged. The market was weakened further by rumors that the Securities Supervisory Board is investigating Daesung Resources for surges in its share price. The company plunged 7,000 won to 112,500. Pharmaceutical companies also were hit hard because of rumors that they also were being probed by the securities watchdog agency. Il-Yang Pharmaceutical shed 1,400 won to 23,600 won, Dong A Pharmaceutical declined 500 won to 20,000 won and Young Jin Pharmaceutical fell 300 won to 10,600 won. Samsung Electronics gained 1,100 won to 71,000 won and Daewoo Heavy Industries rose 50 won to 6,150 won.
