Bloomberg News

South Korea Stocks: Honam, Interpark, Korea Electric, OCI

October 25, 2011

Oct. 25 (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 0.5 percent to 1,888.65, following a two-day, 5.2 percent advance.

Honam Petrochemical Corp. (011170 KS) lost 5.3 percent to 286,000 won. HMC Investment Securities Co. and KTB Investment & Securities Co. reduced their share-price estimates, citing a lower earnings outlook, in separate reports today.

Interpark Corp. (035080 KS), an online retailer, rallied 3.3 percent to 6,200 won, the highest level since April 5, 2010. A group led by Interpark was selected as the preferred bidder for a controlling stake in iMarketKorea Inc. IMarketKorea (122900 KS), a procurement services provider, fell 2.4 percent to 18,150 won.

Korea Electric Power Corp. (015760 KS), supplier of almost all of the country’s electricity, gained 2.5 percent to 24,350 won, the highest level since Aug. 4. Korea Investment & Securities Co. raised its stock rating to “buy” from “hold,” saying in a report today the government is likely to increase power tariffs from next year.

OCI Co. (010060 KS), South Korea’s biggest polysilicon maker, slipped 5.9 percent to 207,000 won. Hana Daetoo Securities Co. and KTB Investment & Securities Co. cut their share-price estimates.

OCI’s operating profit may decline in the fourth quarter on weak polysilicon prices, Lee Jung Heon, an analyst at Hana, said in a report today. The spot prices of polysilicon, the raw material used in most solar panels, tumbled last week at the fastest rate since June, squeezing the margins of manufacturers, Bloomberg New Energy Finance data shows.

--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: Darren Boey at dboey@bloomberg.net


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