Bloomberg News

South Korean Stocks: Celltrion, Green Cross, Hynix, SK Telecom

March 30, 2012

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 0.37 point, or less than 0.1 percent, to 2,014.04. The gauge rose 10 percent this quarter, the best performance since the three months to Sept. 30, 2009.

Celltrion Inc. (068270) (068270 KS), a biopharmaceutical company, added 1.2 percent to 36,950 won, the highest level since March 19. Mirae Asset Securities Co. raised its share-price estimate to 61,000 won from 48,000 won, citing a stronger 2012 earnings outlook.

Green Cross Corp. (006280) (006280 KS), a South Korean vaccine developer, rallied 5 percent to 126,500 won, the most since Feb. 7. The company’s first-quarter operating profit is likely to rise 21 percent, beating consensus estimates, Hyundai Securities Co. said in a report today.

Hynix Semiconductor Inc. (000660) (000660 KS), the world’s No. 2 computer memory-chip maker, retreated 4.1 percent to 29,250 won, the steepest loss since Dec. 19. South Korea’s stock exchange asked the company to comment on a report it submitted a bid for Japan’s Elpida Memory Inc. (6665), according to a regulatory filing. Hynix said after the market closed that it submitted an initial bid. SK Telecom Co. (017670 KS), Hynix’s biggest shareholder, lost 2.1 percent to 139,500 won.

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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