Monexnews-in contrast with his rival in Asia, the main index Kospi – South Korea appears to be rectified in a trade Thursday (7/3) mainly due to the strengthening of the won currency that Korea imposes the country slump technology exporters gingseng.
Today's currency strengthened to be won to his 3 sessions in a row against the u.s. dollar and traded in a range high in the last four months. Strengthening of the won would erode domestic exporters earnings when their repatriation.
Giant Samsung Electronics, where the sessions yesterday announced acquisitions will perform 3 percent of Japan's troubled electronics manufacturers, Sharp Corp., its stock plummeted this day up to 2.1%. While manufacturers of electronic devices and GSI Huneed Technologies both bounce off in up to 5%.
Other South Korea exporters were weakened. Shares in Kia Motors Corp. declined 0.6 percent, and Hyundai Motor Co. also plunged more than 10%. The main index Kospi recorded weakened-1.11% or-20 points in the range of 1998.70, while the Kospi futures weakened as much as partially-2.45 points at 265.05 area.(dar)
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