Bloomberg News

South Korea Stocks: Hankook Tire, Mirae Asset Securities

June 14, 2011

June 14 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the 3 p.m. close in Seoul.

The Kospi Index rose 28.09, or 1.4 percent, to 2,076.83, the biggest advance since May 31.

Hankook Tire Co. (000240 KS), South Korea’s largest tiremaker, jumped 9 percent to 42,500 won, the steepest gain since Dec. 18, 2008. Korea Investment & Securities Co. said in a report that a slump in the shares yesterday, triggered by concern about a recall in China, was “overdone.” The stock tumbled 8.2 percent yesterday after saying it will recall and discard products with a potential safety risk in China.

Korea Exchange Bank (004940 KS) climbed 1.5 percent to 9,490 won, the highest close since May 13 after the company said it will consider paying interim dividends. The lender didn’t say when or how much it may pay, according to a filing.

Mirae Asset Securities Co. (037620 KS), a South Korean brokerage, added 5.2 percent to 47,250 won, the highest level since April 8. The shares gained on speculation the company’s Brazil operations will help boost earnings, said Son Mi Ji, an analyst at Shinhan Investment Corp.

--Editor: Shiyin Chen

To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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