Bloomberg News

South Korean Equity Movers: Korea Life, LS Industrial, OCI

May 10, 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 retreated 0.3 percent to 1,944.93, falling for a second day to the lowest level since Jan. 30.

Korea Life Insurance Co. (088350) (088350 KS) slipped 2.3 percent to 6,810 won. Hyundai Securities Co. reduced its share-price estimate to 9,000 won from 11,000 won, citing worsening global financial conditions, while Korea Investment & Securities Co. also cut its price estimate to 8,200 won.

LS Industrial Systems Co. (010120) (010120 KS), an electric and industrial equipment maker, rallied 4.8 percent to 60,900 won, the most since Feb. 29. The company’s second-quarter operating profit may rise 55 percent from a year earlier to 51.4 billion won ($45 million), Kiwoom Securities Co. said in a report today.

OCI Co. (010060) (010060 KS), South Korea’s biggest maker of polysilicon, dropped 2.3 percent to 217,500 won. Polysilicon prices fell 0.8 percent from a week ago, their 10th straight weekly drop, according to PV Insights.

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

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


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