By Jungyoun Park
SEOUL, Jan 20 (Reuters) - Seoul shares ended slightly higher on Wednesday helped by gains in defensive sectors such as telecoms and utilities, but falls in LG Display ahead of its quarterly results announcement weighed.
The Korea Composite Stock Price Index (KOSPI) finished up 0.24 percent to 1,714.38 points.
'We are seeing defensive issues in the telecommunications and utilities sectors helping markets today, as investors are now realizing that technology and auto issues have risen quite a bit over a short time,' said Chung Myoung-gi, a market analyst at Samsung Securities.
'Whether markets settle comfortably at the 1,700 point level will depend largely on how key domestic earnings come out,' Chung added.
Shares in LG Display fell ahead of its quarterly results announcement, which came out after the market close on Wednesday.
'Investors are starting to wonder if panel prices may hit a ceiling in the near future,' said Cho Sung-eun, an analyst at KTB Securities.
'Flat panel demand from China has been strong. But demand tends to fall off after the Chinese New Year holidays are over, and such seasonal concerns are weighing on shares,' Cho added.
Shares in LG Display ended down 2.08 percent at 40,050 won.
Gains in defensive issues fueled markets' rises as investors sought out sectors that were left out of recent rallies.
Shares in South Korea's top fixed-line and broadband operator KT Corp rose 6.8 percent after it announced its 2010 business outlook on Tuesday.
Analysts said investors were positive about the company's slightly upbeat forecast.
KT said on Tuesday it was aiming for 20 trillion won in sales this year, compared with 19 trillion won in 2009, and planning 3.2 trillion won in investment spending.
'The long-term potential is in its ongoing restructuring effort to reduce the workforce heavily focused on its fixed-line business and to concentrate more on its mobile and Internet TV business,' said Jin Changhwan, an analyst at Shinhan Investment Corp.
KT, also South Korea's No. 2 mobile carrier, in late December announced an early retirement programme to cut 16 percent of its workforce.
Shares in SK Telecom finished up 3.01 percent.
Korea Electric Power Corp advanced 3.87 percent and Korea Gas jumped 5.74 percent.
Samsung Electronics advanced 1.34 percent after news Google had postponed the launch of two mobile phones in China using its Android platform. Samsung Electronics would have been one of the manufacturers of the phones.
'The news has both positive and negative aspects. Samsung may have lost a chance to supply to Google, but then it has also earned more time to upgrade its own smartphone models,' said Park Hyun, an analyst at Prudential Investment & Securities.
(Reporting by Jungyoun Park; Editing by Jonathan Hopfner) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) Keywords: MARKETS KOREA STOCKS (jungyoun.park@thomsonreuters.com; +82 2 3704 5643; Reuters Messaging: jungyoun.park.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
SEOUL, Jan 20 (Reuters) - Seoul shares ended slightly higher on Wednesday helped by gains in defensive sectors such as telecoms and utilities, but falls in LG Display ahead of its quarterly results announcement weighed.
The Korea Composite Stock Price Index (KOSPI) finished up 0.24 percent to 1,714.38 points.
'We are seeing defensive issues in the telecommunications and utilities sectors helping markets today, as investors are now realizing that technology and auto issues have risen quite a bit over a short time,' said Chung Myoung-gi, a market analyst at Samsung Securities.
'Whether markets settle comfortably at the 1,700 point level will depend largely on how key domestic earnings come out,' Chung added.
Shares in LG Display fell ahead of its quarterly results announcement, which came out after the market close on Wednesday.
'Investors are starting to wonder if panel prices may hit a ceiling in the near future,' said Cho Sung-eun, an analyst at KTB Securities.
'Flat panel demand from China has been strong. But demand tends to fall off after the Chinese New Year holidays are over, and such seasonal concerns are weighing on shares,' Cho added.
Shares in LG Display ended down 2.08 percent at 40,050 won.
Gains in defensive issues fueled markets' rises as investors sought out sectors that were left out of recent rallies.
Shares in South Korea's top fixed-line and broadband operator KT Corp rose 6.8 percent after it announced its 2010 business outlook on Tuesday.
Analysts said investors were positive about the company's slightly upbeat forecast.
KT said on Tuesday it was aiming for 20 trillion won in sales this year, compared with 19 trillion won in 2009, and planning 3.2 trillion won in investment spending.
'The long-term potential is in its ongoing restructuring effort to reduce the workforce heavily focused on its fixed-line business and to concentrate more on its mobile and Internet TV business,' said Jin Changhwan, an analyst at Shinhan Investment Corp.
KT, also South Korea's No. 2 mobile carrier, in late December announced an early retirement programme to cut 16 percent of its workforce.
Shares in SK Telecom finished up 3.01 percent.
Korea Electric Power Corp advanced 3.87 percent and Korea Gas jumped 5.74 percent.
Samsung Electronics advanced 1.34 percent after news Google had postponed the launch of two mobile phones in China using its Android platform. Samsung Electronics would have been one of the manufacturers of the phones.
'The news has both positive and negative aspects. Samsung may have lost a chance to supply to Google, but then it has also earned more time to upgrade its own smartphone models,' said Park Hyun, an analyst at Prudential Investment & Securities.
(Reporting by Jungyoun Park; Editing by Jonathan Hopfner) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) Keywords: MARKETS KOREA STOCKS (jungyoun.park@thomsonreuters.com; +82 2 3704 5643; Reuters Messaging: jungyoun.park.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.