Bloomberg News

South Korea Stocks: Hynix, Korean Air, Samsung Card, STX Pan

September 13, 2011

Sept. 14 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 10:18 a.m. in Seoul.

The Kospi Index fell 0.9 percent to 1,796.48. South Korean markets were closed the past two days for public holidays. The MSCI Asia Pacific Index declined 2.1 percent in that time.

Hynix Semiconductor Inc. (000660 KS) jumped 5.3 percent to 20,950 won. Shareholders said they will receive main bids for their stake in the world’s second-largest computer-memory chipmaker and new shares by Oct. 24.

Korean Air Lines Co. (003490 KS), South Korea’s largest carrier, fell 3.4 percent to 56,600 won. Goldman Sachs Group Inc. cut its stock rating to “sell,” citing a deteriorating earnings outlook.

Samsung Card Co. (029780 KS) added 3.2 percent to 49,050 won. The credit-card company said it plans to sell its 20.6 percent stake in Samsung Everland Inc., according to an e-mail in response to inquiries from Bloomberg.

Samsung Electronics Co. (005930 KS), Asia’s biggest maker of chips, flat screens and mobile phones, lost 0.9 percent to 773,000 won. Apple Inc., the world’s most valuable technology company, won backing from a German court for a ban on sales of Samsung’s Galaxy 10.1 tablet computer in the country. Samsung filed an appeal, the Dusseldorf Regional Court said in a statement.

STX Pan Ocean Co. (028670 KS), South Korea’s biggest bulk carrier, added 3.3 percent to 8,790 won. The Baltic Dry Index, a measure of commodity shipping costs, rose 1.3 percent to 1,901 points yesterday, according to the Baltic Exchange in London. Korea Line Corp. (005880 KS) added 5 percent to 8,970 won.

--Editor: Darren Boey

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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