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South Korean stock index falls slightly in last session of strong year

South Korean stock index falls slightly in last session of strong year

South Korean shares fell slightly Friday to finish a year in which the market's main index recorded its fourth double-digit percentage gain in five years.
The Korea Composite Stock Price Index, or Kospi, fell 11.49 points, or 0.6 percent, to 1,897.13 in its final trading session of 2007. It rose 32 percent from the end of 2006, led by gains in shipbuilders, steelmakers and other industrial sectors.
Hyundai Heavy Industries Co. fell 1.7 percent Friday to 442,500 won. But the company, the world's biggest shipbuilder, ended the year with its stock about 250 percent higher due to continuing strong demand for ships.
Hyundai Motor Co. inched up 0.9 percent to 71,600 won and ended the year 5 percent higher.
Samsung Electronics Co., South Korea's biggest corporation, meanwhile, fell 2.5 percent to 556,000 won, posting a 7 percent decline for the year on broadly weak earnings.
In currency trading, the South Korean won rose Friday, though not enough to prevent a slight decline for the year. South Korea's currency finished at 936.10 won to the U.S. dollar, down 0.7 percent in 2007.
South Korean financial markets will be closed on Dec. 31 and Jan. 1. They reopen Jan. 2.


Updated : 2021-06-18 10:02 GMT+08:00