Bloomberg News

South Korea Stocks: Cheil Industries, Hanwha Chemical, Kolon

November 24, 2011

Nov. 24 (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 0.7 percent to 1,795.06, gaining the most since Nov. 17.

Capro Corp. (006380 KS), which makes materials used in the production of nylon, rallied 4.3 percent to 24,300 won, the first increase in five days. Woori Investment & Securities Co. initiated coverage of the company in a report today with a “buy” rating and set a share-price forecast of 38,000 won.

Cheil Industries Inc. (001300 KS), an apparel maker, rose 1.4 percent to 97,800 won, its highest close since Nov. 15. The company said it acquired Italy’s Colombo Via Della Spiga, according to an e-mailed statement today.

Hanwha Chemical Corp. (009830 KS), a chemical maker, fell 4.7 percent to 24,600 won, its lowest close since Oct. 6. The company posted a 24 percent drop in third-quarter net income, according to a regulatory filing yesterday.

Hyundai Mobis Co. (012330 KS), South Korea’s largest maker of auto parts, rose 2.1 percent to 316,000 won, gaining the most since Nov. 14. The company said it agreed to develop a seatbelt safety system with Japan’s Takata Corp., according to an e- mailed statement today.

Kolon Industries Inc. (120110 KS) tumbled 13 percent to 60,800 won, the biggest loss since Sept. 28. A U.S. district court ruled on Nov. 22 Kolon must pay $350,000 in punitive damages in a lawsuit by DuPont Co. against the South Korean fiber maker. Kolon plans to appeal the decision, the South Korean company said in a regulatory filing yesterday.

--Editor: Darren Boey

To contact the reporters on this story: 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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