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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 turn lower; KOPEC jumps on debut Reuters - Monday, December 14 Send IM Story Print *KOSPI turns down 0.3 pct on foreign, institutional selling *KOPEC jumps on first day of trade *Falls in tech issues, Hyundai Mipo weigh By Jungyoun Park SEOUL, Dec 14 - Seoul shares gave up earlier rises to turn lower on Monday amid caution about the economic outlook and losses by technology issues including Hynix Semiconductor <000660.KS>, but rises in market debutant KOPEC lent support. The Korea Composite Stock Price Index <.KS11> was down 0.26 percent at 1,652.52 points as of 0154 GMT. "Stocks are taking a breather following the nearly uninterrupted rises so far this month," said Hwang Keum-dan, a market analyst at Samsung Securities. "The index faces resistance at the mid-1,600 point level. Economic caution is still at large, and investors are taking the latest set of rises as an opportunity to lock in profits," Hwang added. Shares in Korea Power Engineering Company Inc <052690.KS> jumped more than 40 percent on their first day of trading bourse as investors bet on a bright future for South Korea's sole nuclear power plant designer. Shares in KOPEC <052690.KS> were trading at 30,200 as of 0204 GMT, up 39.8 percent from the initial public offering price of 21,600 won, the bottom of the target range. Shares earlier hit as high as 30,550 won. "KOPEC promises both a monopoly and growth, both of which drive investors wild," said Han Byung-hwa, an analyst at Hyundai Securities, adding that with nuclear power a national security sensitive area, the government was likely to ensure KOPEC's monopoly position for some time. Han said he saw the company's six-month target price at 33,000 won. But shares in Hyundai Mipo Dockard <010620.KS> tumbled 5.5 percent after the shipbuilder posted a series of regulatory filings regarding delays in ship deliveries late Friday. Memory chip issues also retreated after losses in the key U.S. semiconductor index <.SOXX>. Hynix Semiconductor was down 2.39 percent and Samsung Electronics <005930.KS> declined 1.15 percent. But STX Offshore & Shipbuilding <067250.KS> inched up 0.78 percent after STX Group said on Saturday STX Europe won two contracts to build platform supply vessels worth a total 183 billion won . Securities firms advanced, with Woori Investment & Securities <005490.KS> gaining 1.19 percent and Samsung Securities <016360.KS> rising 0.31 percent. Recommend Send IM Story Print Related Articles China blocks Sun TV signal in content crackdown Reuters - 1 hour 9 minutes ago Turkish lira opens slightly weaker after DTP ruling Reuters - 1 hour 12 minutes ago JGB futures dip as Dubai news hits yen, helps stocks Reuters - 1 hour 17 minutes ago Confidence grows at Japanese manufacturers AP - 1 hour 20 minutes ago Reliance Comm puts telecom units up for sale -sources Reuters - 1 hour 21 minutes ago News Search Top Stories Dubai to pay debt with $10 billion aid from Abu Dhabi Fed likely to dampen speculation on early exit Greece waits for its financial medicine Nanomaterial used in cancer tests, medicine delivery Decades-old dioxins pollute river, divide US community More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Top British banker admits 'mistakes' on bonuses Tiger Woods' girlfriend apologizes in TV interview 'Whack A Banker' game proving a hit in Britain Dubai stocks maintain profits after break Fed likely to dampen speculation on early exit More Most Viewed » Global stocks mixed amid Dubai debt crisis Tiny magnetic discs could kill cancer cells: study Virgin unveils spaceship to offer space tourism Tiger Woods' girlfriend apologizes in TV interview Dubai blackout over debt plans to hit Gulf markets 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 Copyright © 2009 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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