Samsung Electronics

Election results, weakness on Nasdaq affect sentiment

PUBLISHED : Saturday, 15 April, 2000, 12:00am
UPDATED : Saturday, 15 April, 2000, 12:00am

Share prices in South Korea closed sharply lower in thin trade yesterday as sentiment continued to be dampened by the Nasdaq Composite Index's sustained fall and the opposition Grand National Party's victory in Thursday's general election.

Foreign and institutional investors sold off their holdings in large-cap technology stocks, including Samsung Electronics and Hyundai Electronics, pulling the market below the psychologically important 800-point level in the afternoon session, dealers said.

The Korea Composite Index closed down 36.12 points at 800.89, off a low of 793.74 and a high of 816.07.

Falls beat rises by 535 to 298, with 55 other issues unchanged.

Thirty-one issues closed limit-up and six ended limit-down.

Close: 800.89 (- 36.12) Turnover: 2.56 trln won Volume: 229.81 mln shares