Bloomberg News

South Korea Stocks: Il Yang, KEPCO, LG Innotek, Basic House

November 25, 2011

Nov. 25 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 10:48 a.m. in Seoul.

The Kospi Index fell 0.8 percent to 1,780.05, heading for its lowest close since Oct. 10.

Il Yang Pharmaceutical Co. (007570 KS), a drugmaker, fell 4.9 percent to 25,000 won, heading for its lowest close since Oct. 4. The company said it ended negotiations with an unidentified company on overseas sales of an ulcer drug.

Korea Electric Power Corp. (015760 KS), the country’s biggest electricity producer, rose 4 percent to 24,750 won. Edaily reported the nation’s energy minister reiterated it’s considering a power tariff increase.

LG Innotek Co. (011070 KS), a mobile-phone parts and light- emitting diodes maker, rose 1.6 percent to 63,300 won. Shinhan Investment Corp. lifted its rating on the stock to “buy” from “trading buy” in a report today.

“The company which supplies parts to Apple Inc. will benefit” when Apple releases new products next year, such as the iPad3, Shinhan’s analyst Ha Joon Doo wrote.

The Basic House Co. (084870 KS), an apparel maker, fell 6.2 percent to 17,550 won, heading for its biggest loss since Oct. 5, after LIG Investment & Securities reduced its share price estimate by 20 percent.

The apparel maker swung to a net loss of 1.9 billion won ($1.6 million) in the third quarter, from 3.9 billion won net income in the previous three months.

--Editor: Richard Frost

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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