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Sunday, October 30, 2011

Kospi Flat In Trade Chopper

Kospi Flat In Trade Chopper


Kospi moving flat at 1929.59 level in choppy trading despite the technology sector strengthened; local institutions do for KRW37.8 billion net buy foreign stocks while doing net buy of KRW14.3 billion.

Samsung Electronics rose by 2.5% at level KRW969.000 as institutional investors increase their portfolio after the results of the third-quarter earnings report was strong; "when there is still caution about the prospects for a wider market and you still take action to buy something, it will usually be a blue chip stocks, "said Park Seok-hyun, an analyst at KTB Investment & Securities.

Park added that the market is expected to wait for policy measures are more to support the financial markets, but for now, the increase tends to be limited by the index will likely be overshadowed by profit taking.

KB Financial down 2.4% at level KRW43.900 after lower outlook on third quarter earnings results.  

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