Bloomberg News

South Korea Stocks: CJ, Hanjin, Hynix, Hyundai Marine, KP

November 16, 2011

Nov. 16 (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 retreated 1.6 percent to 1,856.07, falling for a second day.

MSCI Inc. index changes: CJ Corp. (001040 KS), a holding company for South Korea’s biggest food processor, rallied 2.8 percent to 77,900 won, leading gains among companies that will be included in the MSCI Korea Index after Nov. 30. Hyundai Marine & Fire Insurance Co. (001450 KS), a non-life insurer that will also be added to the index, climbed 1.9 percent to 34,250 won.

Hanjin Heavy Industries & Construction Co. (097230 KS), a shipbuilder that will be removed from the MSCI Korea Index, lost 3.1 percent to 18,500 won. Hanjin Shipping Co. (117930 KS), which will also be deleted, slid 4.9 percent to 9,130 won.

KP Chemical Corp. (064420 KS) added 1.9 percent to 18,350 won, the highest close since Sept. 22. Honam Petrochemical Corp. (011170 KS) is considering a merger with its unit KP Chemical, according to a regulatory filing.

Hynix Semiconductor Inc. (000660 KS), the world’s second- largest computer-memory chipmaker, advanced 1.4 percent to 22,350 won. Moody’s Investors Service placed the ratings of Hynix on review for a possible upgrade, according to a statement.

--Editor: Ravil Shirodkar

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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