PT Quantum Futures - South Korea Stocks Update: Kospi Index Rises 18.80 to 1188.55

South Korea Stocks Update: Kospi Index Rises 18.80 to 1188.55

Thursday, 18 December 2008

Dec. 18 (Bloomberg) -- South Korea's benchmark stock index, the Kospi Index, rose 1.61 percent at 9:05 a.m.

The index of 757 companies traded on the Korea Exchange rose 18.80 to 1,188.55. Among the stocks in the index, 430 rose, 87 fell and 241 were unchanged.

Gains in the Kospi Index were led by Posco, Samsung Electronics Co Ltd and Kb Financial Group Inc. About 21.85 million shares changed hands.

Hynix Semiconductor Inc, which rose 180 won to 7,410 won, was the most active stock by value in South Korea.

The next most-active issues were Samsung Electronics Co Ltd, which rose 4,000 won at 463,500 won, and Posco, which rose 7,000 won to 398,500 won.

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NEW YORK, Dec 18 (Reuters) - Rates banks charge each other for U.S. dollar-denominated funds slid to fresh 4-1/2 year lows on Thursday in the wake of the U.S. Federal Reserve's move this week to keep interest rates at rockbottom levels for a sustained period.

The Fed's dramatic measure that sent its target rate to a record low range of zero to 0.25 percent has helped to unlock credits for cash-strapped borrowers, but it has not been the immediate jolt that some traders had hoped.

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