Bloomberg News

South Korea Stocks: Daewoo Ship, Hanjin Heavy, Himart, OCI

December 12, 2011

Dec. 12 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 10:13 a.m. in Seoul.

The Kospi Index rose 1.2 percent to 1,896.22, following a two-day, 2.3 percent retreat.

Renewable energy-related companies: OCI Co. (010060 KS), the biggest South Korean maker of polysilicon, added 3.6 percent to 242,500 won. Nexolon Co. (110570 KS), which makes silicon ingots and wafers used in solar cells, jumped 10 percent, the most in eight weeks on a closing basis, to 4,745 won. Taewoong Co. (044490 KS), which makes parts for wind turbines, rose 4.4 percent to 33,350 won. Renewable energy demand in developing countries will increase, Hyundai Securities Co. said in a report today.

Developing nations led by China and India pledged they’d work toward an agreement that would limit their fossil fuel emissions for the first time, the biggest advance in the fight against global warming in 14 years.

Daewoo Shipbuilding & Marine Engineering Co. (042660 KS), a shipyard, retreated 3.1 percent to 27,950 won. A client in Europe canceled a 589.3 billion won ($515 million) order, according to a regulatory filing.

Hanjin Heavy Industries & Construction Co. (097230 KS) rallied 3.9 percent to 22,750 won, the highest level in three months. The company’s orders and financial structure will improve in 2012, Tong Yang Securities said in a report today.

Himart Co. (071840 KS), a South Korean home appliance retailer, rallied 4.4 percent to 86,300 won. Korea Exchange Inc. requested Lotte Shopping Co. (023530 KS) clarify reports that it may bid for Himart. Lotte Shopping lost 1.3 percent to 335,500 won.

--Editor: Marie-France Han

To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net

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


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