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S Korean shares drop on profit-taking
Last Updated(Beijing Time):2012-01-30 15:26

Declines on chemical shares weighed on the local stock market. Leading chemical firm LG Chem plunged 4.45 percent to 365,000 won, and its smaller rival Honam Petrochemical lost 2.08 percent to 353, 000 won. Top crude oil refiner SK Innovation dropped 3.2 percent to 166,500 won.

Auto shares ended bearish. The nation's No.1 carmaker Hyundai Motor fell 2.26 percent to 216,000 won, and its affiliate Kia Motors slid 0.89 percent to 66,500 won. Top auto parts maker Hyundai Mobis tumbled 7.59 percent to 280,000 won.

Other large-cap shares lost ground. The world's No.1 shipyard Hyundai Heavy Industries dipped 2.44 percent to 299,500 won, and top steelmaker POSCO fell 1.65 percent to 416,500 won.

In contrast, tech shares closed higher on persistent foreign buying. Memory chip giant Hynix Semiconductor gained 0.96 percent to 26,250 won, and consumer electronics giant LG Electronics rose 1.23 percent to 82,500 won.

The local currency closed at 1,127.3 won against the greenback, down 4.1 won from Friday's close.

Bond prices ended higher. The yield on the liquid three-year treasury notes fell 0.02 percentage point to 3.36 percent, and the return on the benchmark five-year government bonds dipped 0.03 percentage point to 3.48 percent.

Source:Xinhua 
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