Bloomberg News

South Korea Equity Movers: Kyobo Securities, NCSoft, Nexolon

October 14, 2011

Oct. 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 close in Seoul. The Kospi Index rose 0.7 percent to 1,835.40, capping a seven-day, 10 percent advance. The gauge surged 4.3 percent this week, its biggest gain since five days that ended on Sept. 2.

Korea Gas Corp. (036460 KS), the world’s biggest buyer of liquefied natural gas, advanced 1.8 percent to 34,800 won. Iraq reached a final agreement with Korea Gas to develop the Akkas natural-gas field, one of the country’s biggest, ending months of delay for a project that aims to provide fuel to power plants and help curb blackouts.

KT Corp. (030200 KS), South Korea’s largest phone and Internet company, added 2.5 percent to 36,800 won. Telkom South Africa Ltd., Africa’s biggest fixed-line phone company, said KT may acquire a 20 percent shareholding in the company.

Kyobo Securities Co. (030610 KS), a brokerage, rallied 3.7 percent to 4,990 won, the highest level since Sept. 21. The company will buy back 1 million shares to stabilize its stock price, according to a regulatory filing.

NCSoft Corp. (036570 KS) added 1.1 percent to 362,500 won, a record. The online-game maker was raised to “buy” from “hold” at Deutsche Bank AG.

Nexolon Co. (110570 KS), South Korea’s biggest maker of silicon ingots and wafers used in solar cells, advanced to 5,200 won in its Seoul trading debut, from the initial public offering price of 4,000 won.

--Editor: Allen Wan

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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