Bloomberg News

South Korea Stocks: Korea Zinc, Kukdo, LG Hausys, Poongsan, SDI

October 20, 2011

Oct. 20 (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 fell 2.7 percent to 1,805.09, its steepest drop since Oct. 4.

Metals-related companies: Korea Zinc Co. (010130 KS), the nation’s biggest zinc smelter, tumbled 10 percent to 279,000 won. The stock retreated on speculation falling metal prices will erode earnings, said Choi Moon Sun, an analyst with Korea Investment & Securities Co.

Poongsan Corp. (103140 KS), a maker of copper products, slipped 7.4 percent to 28,200 won. Copper, zinc and tin fell more than 3 percent in London.

Kukdo Chemical Co. (007690 KS) sank 9.1 percent to 38,850 won, its steepest drop since Sept. 26. Third-quarter net income plunged 53 percent from a year earlier, the chemicals maker said in a regulatory filing.

LG Hausys Ltd. (108670 KS), a building-materials maker, rallied 7.1 to 78,200 won, the most since Sept. 10, 2009. Third- quarter net income increased 64 percent from a year earlier, the company said in a regulatory filing.

Samsung SDI Co. (006400 KS), which makes lithium-ion rechargeable batteries, advanced 2.4 percent to 128,000 won on speculation the company will benefit from growing demand for smartphones made by Samsung Electronics Co. (005930 KS), according to Jonathan Hwang, an analyst at Daewoo Securities Co.

Samsung Electronics added 2.4 percent to 907,000 won.

--Editor: Matthew Oakley

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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