Bloomberg News

South Korean Equity Movers: Korea Aerospace, Samsung, SK C&C

June 01, 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 0.5 percent to 1,834.51. The gauge rose 0.6 percent this week.

Metal producers: Poongsan Corp. (103140) , a copper-products maker, retreated 4.1 percent to 24,500 won. Korea Zinc Co. (010130) , which produces gold and silver, slipped 3.7 percent to 342,000 won. Copper futures for July delivery slid 0.7 percent yesterday to settle at $3.3655 a pound on the Comex in New York, after touching $3.3415, the lowest for a most-active contract since Dec. 29. Silver futures for July delivery fell 0.8 percent to $27.757 an ounce on the Comex.

Korea Aerospace Industries Ltd. (047810) , South Korea’s largest planemaker, rallied 8.1 percent to 26,850 won, halting a three-day, 8.8 percent retreat. Second-quarter operating profit may increase 16 percent to 57.2 billion won ($48 million), Woori Investment & Securities Co. said in a report today. The company’s 2012 new orders target appears to be on track, the brokerage said.

Samsung Electronics Co. (005930) , Asia’s biggest maker of chips and flat screens, advanced 1.8 percent to 1.23 million won. The company has sold more than 50 million units of its Galaxy S phone series, according to an e-mailed statement.

SK C&C Co. (034730) , the information-systems unit of South Korea’s SK Group, advanced 5.8 percent to 99,200 won. The company plans to buy back 2 million shares to stabilize its stock price, according to a regulatory filing.

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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