Seoul shares ended flat on Thursday, as Hyundai Motor retreated after posting an unexpected fall in operating profit, but Hyundai Merchant Marine surged by the most in two months amid expectations for rising container charter rates.
LG.Philips LCD extended gains to a fourth day following encouraging guidance from Corning, a US maker of glass for flat panel displays, but SK Telecom slumped to a new three-month closing low following its weak results this week.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.05 percent to end at 1,382.36 points, retreating after earlier hitting its highest since January 16. Hyundai Motor Co fell 0.75 percent to 66,500 won after it posted a surprise fall in its operating profit.
SK Telecom Co extended its rout this week to slump 3.19 percent to 197,500 won, its lowest close since October 13. KT Corp fell 3.81 percent to 45,400 won. The country's biggest fixed-line and broadband operator is also expected to post on Friday a tumble in profits due to higher marketing expenses. Among other decliners, POSCO Co Ltd fell 1.67 percent to 323,500 won. Among gainers, Hyundai Merchant Marine Co surged 5.2 percent to 18,200 won.
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