Kospi slips while Kosdaq rises again

The Korea Composite Stock Price Index lost 0.84 points, or 0.1 percent, yesterday to close at 1,115.84.

“Selling by foreign investors for the six trade sessions pressed the market,” said Park Seok-hyeon, an analyst at Kyobo Securities.

Blue chips were generally weak. Samsung Electronics declined 0.2 percent to 562,000 won ($565). Korea Electric Power shed 0.6 percent. LG Philips LCD fell 0.8 percent and Hyundai Motor lost 0.6 percent. SK Telecom and KT slid 0.5 percent each.

LG Electronics and parent company LG Corp. declined sharply, after the Dubai-based Sovereign Asset Management sold its stakes in the two companies. LG Electronics sank 4.4 percent and LG Corp. lost 1.9 percent.

Non-life insurers were strong on higher earnings prospects. Samsung Fire & Marine Insurance surged 7.4 percent. Hyundai Marine & Fire Insurance gained 6.2 percent. Dongbu Insurance Co. jumped 7.1 percent.

Volume was 336.2 million shares, worth 2.8 trillion won. Advancing shares led decliners, 382 to 356.

The Kosdaq rose for the third session, up 3.04 points, or 0.6 percent, to close at 521.38.

Internet shares generally rose. NHN added 3 percent, Daum Communications 0.8 percent and NeoWiz 0.7 percent.

Volume was 560.1 million shares, for 1.6 trillion won. Advancers beat decliners, 442 to 375.

by Moon So-young