Bloomberg News

South Korea Equity Movers: Kumho Petrochemical, LG Electronics

February 02, 2012

Feb. 2 (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 1.3 percent to 1,984.30, the highest closing level since Aug. 4.

Metals-related companies: Korea Zinc Co. (010130 KS), the nation’s biggest zinc smelter, added 4.4 percent to 400,500 won. Poongsan Corp. (103140 KS), a copper-products maker, rallied 6 percent to 34,750 won. Copper futures for March delivery climbed 1.4 percent yesterday on the Comex in New York. Zinc also advanced.

Korea Kumho Petrochemical Co. (011780 KS), a South Korean maker of synthetic rubber, rose 3.5 percent to 179,000 won, the highest level since Dec. 13. The company’s first-quarter earnings will improve on higher product prices, Hyundai Securities Co. said in a report today.

LG Electronics Inc. (066570 KS), the world’s third-largest maker of mobile phones, climbed 7.4 percent to 90,500 won, the highest close since June 7. The company reported the first profit at its handset business in seven quarters. Tong Yang Securities Inc. and Woori Investment & Securities Co. raised their share-price estimates.

--Editor: Matthew Oakley

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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