Bloomberg News

South Korea Stocks: KP Chemical, LG Display, Samsung Electronics

November 05, 2011

Nov. 4 (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 3.1 percent to 1,928.41, the most since Oct. 24. The gauge fell 0.1 percent this week.

Petrochemical stocks: KP Chemical Corp. (064420 KS), which fell 5.6 percent in the past two days, rallied 8.9 percent to 16,600 won. Honam Petrochemical Corp. (011170 KS) rose 9.6 percent to 331,500 won, the highest level since Sept. 22. The shares gained on speculation concerns over global demand will ease, said Ahn Sang Hee, an analyst with Daishin Securities Co.

LG Display Co. (034220 KS), the world’s second-largest liquid-crystal display maker, added 8.1 percent to 23,250 won, its steepest advance since Sept. 29. Hyundai Securities Co. said in a report today the company will “significantly” reduce its operating loss in the current quarter.

Samsung Electronics Co. (005930 KS), Asia’s biggest maker of chips, flat screens and mobile phones, climbed 3.9 percent to 1 million won, the highest level since Jan. 28. SonoSite Inc., a U.S. bedside ultrasound and cardiograph equipment maker, is up for sale and in talks with potential buyers including Samsung Electronics, said three people with knowledge of the matter.

--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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