SOUTH KOREA SEOUL STOCK MARKET SHARE PRICES FALL

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(27 Dec 1995) English/Nat • • Registering a significant fall, the South Korean Stock Exchange closed Wednesday lower than it opened at the start of the financial year. • • It's the first time in four years the market has fared so poorly, analysts blaming the decline on the country's unstable political climate. • • Share prices on the Seoul exchange ended the year's last trading day with modest gains in what analysts say was an attempt by institutional investors to prop up share prices. • • But for the first time in four years the benchmark composite index witnessed a drop from 1,013.57 on January 3rd, which was the closing rate on the very first day of trading for 1995. • • The Korea Composite Stock Price Index was up five-point-four-six (5.46) points and closed at a provisional eight-hundred-and-eighty-two-point-seven-six (882.76). • • Korea's result comes as Japan's Nikkei Index closed above the 20-thousand-point level for the first time in 14 months Wednesday. • • The rise culminates six days of gains, with some traders predicting Japan may be heading towards a recovery after a five-year economic slump. • • Despite the doom and gloom in Korea, traders were still celebrating the end of the year. • • The dealing room took on the appearance of a snow storm as paper confetti showered down on the floor marking the official close of the index for 1995. • • Market analysts have blamed the poor performance of the exchange on South Korea's unstable political climate - which has seen former president of the country Roh Tae-woo committed to stand trial on corruption charges relating to an alleged secret slush fund. • • SOUNDBITE: (English) • \\ This supposed secret money scandal and political situation made our market rather gloomy and we have closed with minus figures\\ • SUPER CAPTION: Hong In--ki, Chief Director, Korea Stock Exchange • • At the close of trading, blue chips and bank issues benefited the most from the efforts by institutional investors to prop up prices. • • Samsung Electronics Company rose 35-hundred won to end at 141-thousand won. • • Analysts say they are confident the stock market will stabilise in the new year with lower interest rate levels forecast and continued economic growth. • • Find out more about AP Archive: http://www.aparchive.com/HowWeWork • Twitter: / ap_archive • Facebook: / aparchives • Instagram: / apnews • • • You can license this story through AP Archive: http://www.aparchive.com/metadata/you...

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