Korean Shares Fall During Euro Fears

KOSPISeoul Stocks declined yesterday after Wall Street fell based on fears about European Government debts. Samsung and Hana Financial Group dropped and the Korea Composite Stock Price Index .KS11 (Kospi) fell 0.87 % to 2,062.73 points. Also, on Thursday, the Bank of Korea will review the interest rates. Meanwhile, the chemical industries are still doing well.

A market analyst at Woori Investment & Securities, Lawrence Kim, explained that “Investors have grown a bit cautious now amid growing fears about Portugal. The interest rate decision by Bank of Korea scheduled later this week is also awaited.” Portugal received a temporary breather when the European Central Bank bought up Portugal’s bonds. Meanwhile, market pressure mounted for Lisbon to find an international bailout quickly.