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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 end up 1.8 pct as eurozone fears fade Reuters - 1 hour 8 minutes ago Send IM Story Print * KOSPI bounces on EU, IMF emergency fund * Banks lead gains, NCSoft jumps on positive brokerage notes By Jungyoun Park SEOUL, May 10 - Seoul shares ended up 1.83 percent on Monday after an emergency fund to address eurozone debt issues stoked investor appetite for battered financial shares such as Woori Finance, while blue-chip tech and auto issues also rose. The Korea Composite Stock Price Index <.KS11> finished up 30.13 points at 1,677.63 points. "News of sent relief over the market and prompted a healthy rebound from the sharp losses seen in the previous two sessions," said Won Jong-hyuck, a market analyst at SK Securities. Global policymakers unleashed an emergency rescue package worth about $1 trillion to stabilise world financial markets and prevent the Greek debt crisis from destroying the euro currency.[ID:nN09270819] "The EU consensus also seems to point to the EU's commitment to address other problems should they arise in other countries like Spain and Portugal," said Lee Kyoung-su, a market analyst at Taurus Investment & Securities. Foreign investors however were still net sellers of 370.4 billion won worth of stocks after record net sales on Friday. "Foreign investors had in recent weeks bought into South Korean stocks a lot, and it probably does not hurt them to move more cautiously at this juncture," Won at SK Securities said. Banks fueled the market's upward momentum, as appetite for financials revived after their sharp falls in the previous week. Shares in KB Financial Group <105560.KS> ended up 5.35 percent and Woori Finance Holdings <053000.KS> jumped 8.44 percent. "Appetite for Woori was particularly good as it is set to benefit from the IPO of Samsung Life and sale of Daewoo International, in which it owns stakes," said Jun Jae-gon, an analyst at KB Investment & Securities. Hanjin Heavy Industries Co. <097230.KS> ended up 6.38 percent after the company said on Monday that its Philippines-based unit had won a $500 million order from a European shipper to build eight bulk carriers. [ID:nSEL003084] Shares in NCSoft <036570.KS> finished up 5.74 percent on positive brokerage reports. SK Securities lifted its rating on NCSoft to "buy" from "neutral" and also raised its target price on the online game firm to 205,000 won from the previous 165,000 won, citing a positive earnings outlook. "New game launches in the second half will likely increase its sales," SK Securities said in a report. Shares in Dong-A Pharmaceutical <000640.KS> jumped 7.73 percent after the company confirmed a local media report GlaxoSmithKline Plc <GSK.N> was in talks to buy a stake in the firm. Recommend Send IM Story Print Related Articles Sony says it made operating profit in fiscal 2009 AFP - 22 minutes ago Japan's Noda: Govt welcomes BOJ's prompt action Reuters - 26 minutes ago PREVIEW-S.Korea rate move seen in H2, no change likely on Wed Reuters - 31 minutes ago US official says more fines for Toyota possible AP - 31 minutes ago Japan's TEPCO to take stake in Texas nuclear project Reuters - 32 minutes ago News Search Top Stories Jazz singer Lena Horne dies at 92: report EU in monster eurozone aid deal, euro surges EU agrees bumper eurozone aid deal: diplomat Euro up as Europe races to fix monster bailout Crisis EU finance talks under way More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Qatar buys top London store Harrods BP dealt setback in oil containment bid Britain cannot support EU stability fund: Darling Euro up as Europe races to fix monster bailout US probes mystery stock crash as panic spreads More Most Viewed » Aliens may exist but contact would hurt: Hawking Lack of sleep linked to early death: study Apple engineer loses iPhone prototype Freddie Mac asks for fresh 10.6 billion dollar bailout French driving veil row escalates 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 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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