Wednesday, February 09, 2005
Posted by Roberto
9:00 AM
0 comments
KOREAN FINANCIAL MARKET
Large companies plan to buy up their own shares. Steel giant Posco will buy 2 percent of its total shares over the next three months, spending about 331 billion won ($322.5 million). Hyundai Motor will buy 12 million shares and Samsung Electronics will invest 2 trillion won this year in its own shares.
When major blue chip firms buy back their own shares, it may not boost the market, but it will at least prevent it from slipping.
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