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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Seoul shares rangebound; SK Energy, shipyards gain Reuters - Tuesday, September 28 Send IM Story Print * KOSPI trades within limited range; foreign buying ensues * SK Energy gains on improving earnings outlook * N.Korea news of Kim Jong-un has little impact - analysts By Jungyoun Park SEOUL, Sept 28 - Seoul shares were rangebound on Tuesday following recent gains and modest declines on Wall Street, while airline and tour issues continued to outperform on the won's <KRW=> recent strength. As of 0114 GMT, the Korea Composite Stock Price Index <.KS11> was down 0.15 percent at 1,858.10 points after reaching a 28-month closing high in the previous session. "The market is taking a breather following recent gains. Falls on Wall Street are also weighing," said Hong Soon-pyo, a market analyst at Daishin Securities. News early on Tuesday that North Korean leader Kim Jong-il's son Jong-un had been given the rank of general had a limited impact on the stock market. [ID:nTOE68Q085] "Such developments were expected and come as no surprise," Hong said. Foreign investors were buyers of a net 19 billion won ($16.58 million) worth of stocks, poised to pick up shares for a tenth session, the longest buying streak since Aug. 4. Airlines and tourism issues continued to outperform on the back of the won's <KRW=> recent strength, pointing to an increase in demand for overseas tours and lower jet fuel import costs. Asiana Airlines Inc <020560.KS> rose 2.8 percent and tour agency Modetour Network Inc <080160.KQ> gained 1.8 percent. SK Energy Co Ltd <096770.KS> rose 3.4 percent as its earnings outlook strengthened and amid expectations for its lithium-ion battery venture, analysts said. "SK Energy is expected to see an earnings turnaround next year as refining margins improve," said Cha Hong-sun, an analyst at Hanwha Securities. "Its battery business is also expected to churn out a solid profit by 2012." Shipbuilders advanced, lifted by a firm gain in the Baltic Dry Index <.BADI>, which tracks the cost of shipping key commodities. Samsung Heavy Industries Co Ltd <010140.KS> rose 1.3 percent and Hyundai Heavy Industries Co Ltd <009540.KS> firmed 0.6 percent. Banking stocks retreated, led by Shinhan Financial Group Co Ltd <055550.KS>, down 1.4 percent. The Seoul Central District Prosecutors' Office has banned Shinhan Financial Group Chief Executive Shin Sang-hoon and six other Shinhan officials from leaving the country, according to local media reports. KB Financial Group Inc <105560.KS> shed 1.1 percent. Recommend Send IM Story Print Related Articles Indian bond yields boxed on lack of fresh trigger Reuters - 25 minutes ago PREVIEW-Dudley faces delicate task in rebuilding BP Reuters - 27 minutes ago Falkland Oil sees delay to drilling, BHP pulls out Reuters - 29 minutes ago Bahrain's Investcorp acquires U.S. legal services firm Reuters - 29 minutes ago Europe shares slip; caution persists ahead of data Reuters - 39 minutes ago News Search Top Stories 'Fifty percent of spilled oil remains in Gulf' Petrobras becomes third biggest oil firm France, Germany split on automatic EU budget fines Eurozone needs extra oversight: ECB IMF cuts 2011 UK growth forecast to 2.0% More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended New Citigroup banker could net 30 mln dlrs a year Virgin to launch space tourism in 18 months Petrobras becomes third biggest oil firm France seeks talks with Qaeda kidnappers Owen rescues Man Utd in draw with Bolton More Most Viewed » US state executes first woman in nearly 100 years US pastor puts Koran-burning on hold 'Time bomb' superbug requires global response: doctor Vitamin B 'could delay Alzheimer's onset' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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