Bloomberg News

South Korean Stocks: Hanjin, Hysco, KB, Korea Zinc, SungJin

February 12, 2012

Feb. 10 (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 fell 1 percent to 1,993.71. The gauge rose 1.1 percent this week, its sixth straight weekly advance.

Hanjin Shipping Co. (117930 KS), South Korea’s largest shipping line, added 4.5 percent to 17,600 won, the highest level since Aug. 4, after carriers announced plans to raise Asia-U.S. rates for the second time this year.

Members of the Transpacific Stabilization Agreement shipping group yesterday said they would seek a $300 per 40-foot box increase next month after “successfully” pushing through a boost in January.

Hyundai Hysco Co. (010520 KS), a steel-products maker, rallied 5.3 percent to 40,550 won, the highest close since Dec. 1. The company said 2011 net income increased 53 percent from a year earlier. The company’s plan to expand production capacity until 2013 will help boost earnings, Korea Investment & Securities Co. said in a report today.

KB Financial Group Inc. (105560 KS) lost 2.2 percent to 44,000 won. The owner of South Korea’s largest bank posted its lowest quarterly profit in a year. Net income at KB was 219.1 billion won ($197 million) in the three months ended Dec. 31, the lowest since its revised 341 billion won loss a year earlier, the lender said in a regulatory filing.

Korea Zinc Co. (010130 KS), South Korea’s biggest zinc smelter, added 2 percent to 418,000 won, the highest level since Sept. 16. The company’s 2011 profit rose 31 percent from a year earlier to 676.8 billion won as silver and gold prices climbed. Tong Yang Securities raised its share-price estimate to 460,000 won.

SungJin Geotec Co. (051310 KS), a South Korean plant equipment maker, dropped 4.2 percent to 13,600 won, after reporting 2011 net loss of 59.2 billion won.

--Editor: Chan Tien Hin

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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