Bloomberg News

South Korea Stocks: Daewoo Shipbuilding, Hynix Semiconductor

February 28, 2012

Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 9:23 a.m. in Seoul.

The Kospi Index (KOSPI) rose 1 percent to 2,022.98.

Daewoo Shipbuilding & Marine Engineering Co. (042660) (042660 KS) gained 5 percent to 35,900 won. The shipbuilder may win an order for a floating production unit from Inpex Corp., Korea Economic Daily reported. The company was asked by the stock exchange to respond to the report by 6:00 p.m. today.

Hynix Semiconductor Inc. (000660) (000660 KS) gained 2 percent to 30,450 won, adding to a 6.8 percent rally yesterday. The chipmaker’s smaller rival Elpida Memory Inc. filed for bankruptcy on Feb. 27.

To contact the reporter on this story: Jun Yang in Seoul at jyang180@bloomberg.net

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


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