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Korean stock prices up 38.68 points.

SEOUL, July 16 Kyodo

Korean stocks picked up 3.94%, recovering the 1,000 mark Friday thanks to renewed buying by foreign investors, reports Yonhap. The key index advanced 38.68 points to 1,020.82 in the backdrop of accelerated inflow of funds.

Customers' deposits exceeded 11 trillion won and deposits in beneficiary certificates surged 6.4 trillion won thus far this month to reach 37 trillion won as of Wednesday. Volume totaled 360.3 million shares on a trading value of 5.36 trillion won. Advancers led decliners 670 to 164 with 49 issues remaining unchanged.

Insurance, securities, and electric machinery issues rose sharply. Semiconductor producers made strong gains amid the general rally by high-tech indices across the globe. Large-cap indices rose 4.21 %.

Key bluechips all rose with SK Telecom, and Pohang Iron and Steel gaining 50,000 won and 8,500 won, respectively.
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Publication:Asian Economic News
Date:Jul 19, 1999
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