Bloomberg News

South Korea Stocks: SDI, SK Securities, S.M. Entertainment

October 12, 2011

Oct. 12 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are at the close in Seoul. The Kospi Index rose 0.8 percent to 1,809.50, taking its five-day advance to 8.6 percent.

Samsung SDI Co. (006400 KS), a lithium-ion rechargeable batteries maker, lost 0.8 percent to 125,500 won, falling for a second day. Goldman Sachs Group Inc. cut its share-price estimate by 25 percent to 120,000 won, citing lower earnings estimates for 2011 to 2013.

SK Securities Co. (001510 KS), a brokerage, advanced 4.4 percent to 1,300 won. SK Networks Co. (001740 KS) was asked by Korea Exchange Inc. to comment on speculation it may sell a stake in SK Securities to a private equity fund in Hong Kong, according to a regulatory filing today.

S.M. Entertainment Co. (041510 KS) rallied 9.7 percent to 52,500 won, a record-high. Korea Investment & Securities Co. rated the shares “buy” in new coverage, saying in a report today growing overseas royalties will help boost earnings in 2012.

--Editor: Richard Frost

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

To contact the editor responsible for this story: Shiyin Chen at schen37@bloomberg.net


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