Bloomberg News

South Korea Stocks: Basic House, Hyundai Mipo, Hyundai Heavy

November 29, 2011

Nov. 29 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 11:07 a.m. in Seoul.

The Kospi Index rose 1.5 percent to 1,842.69, heading for the highest close since Nov. 17.

Hyundai Mipo Dockyard Co. (010620 KS), a shipbuilder, rose 7.6 percent to 113,500 won, heading for its largest gain since Oct 11. Daishin Securities Co. said the stock is “compelling,” citing dividends and potential orders, in a report released yesterday.

Hyundai Heavy Industries Co. (009540 KS), the Ulsan-based shipbuilder rose 2.5 percent to 269,500 won after the company said it received $22.9 billion worth of orders in the first 10 months of this year, 48 percent more than a year earlier, according to a regulatory filing yesterday.

The Basic House Co. (084870 KS), an apparel maker, rose 4.9 percent to 15,950 won, heading for the largest gain since Nov. 8. Korea Investment & Securities Co. said the stock’s recent fall on concerns about China’s fashion industry was “excessive,” in a report released today. The brokerage maintained its share-price estimate of 28,500 won and a stock rating of “buy.”

--Editor: Matthew Oakley

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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