Bloomberg News

South Korea Stocks: Daekyung, GS Holdings, Shinsegae, STX Pan

November 15, 2011

Nov. 15 (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 0.9 percent to 1,886.12, following a two-day, 4.9 percent advance.

Daekyung Machinery & Engineering Co. (015590 KS), a chemical-machinery maker, rallied 1.8 percent to 3,190 won, halting a four-day, 5.3 percent retreat. Daewoo Shipbuilding & Marine Engineering Co. (042660 KS) said it is part of a private equity fund that submitted a letter of intent to buy Daekyung Machinery.

GS Holdings Corp. (078930 KS), the parent of South Korea’s No. 2 refiner GS Caltex Corp., fell 2.9 percent to 63,200 won. The company posted a 45 percent profit decline in the third quarter, according to a regulatory filing.

Shinsegae International Co. (031430 KS), which distributes Armani and Diesel brands in South Korea, lost 2 percent to 145,000 won. The company was cut to “hold” from “buy” at Woori Investment & Securities Co., which cited a lower earnings outlook.

STX Pan Ocean Co. (028670 KS), South Korea’s biggest bulk carrier, fell 2.7 percent to 6,440 won. The company posted a third-quarter net loss of $37.4 million, according to a statement to the Singapore stock exchange.

--Editor: Allen Wan

To contact the reporters on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net Rose Kim in Seoul at rkim76@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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