Seoul shares end down

07 Jan, 2011

Seoul shares ended down 0.2 percent after hitting an all-time high earlier on Thursday, weighed down by banking plays such as KB Financial Group Inc, while firm gains in shipyards cushioned the fall.
The Korea Composite Stock Price Index finished down 0.24 percent at 2,077.61 points. The KOSPI 200 March futures index lost 0.65 points to 276. The KOSPI 200 spot index went up 0.63 points to 274.72. The junior Kosdaq market gained 0.73 percent to 527.64.
Foreign investors continued to buy, picking up 330.9 billion won ($294.5 million) worth of stocks, and poised to become net buyers for a fourth consecutive session.
Financial holding firms that run the country's biggest banks retreated on reports they would contribute to solving the problems of troubled savings banks suffering from exposure to real estate project-financing loans.
Shipbuilders rallied as the sector outlook continued to grow more positive, analysts said. Hyundai Heavy finished up 2 percent and Daewoo Shipbuilding & Marine Engineering Co Ltd rose 1.5 percent.
Positive US jobs data lifted sentiment and sent key auto exporters higher. Hyundai Motor Co, the country's top automaker, advanced 2.7 percent and Kia Motors Corp rose 0.4 percent.

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