Bloomberg News

South Korean Stocks: Daewoo, Hyundai Engineering, LG, Techwin

June 14, 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 added 0.7 percent to 1,871.48.

Daewoo Engineering & Construction Co. (047040) (047040 KS) added 3.5 percent to 8,870 won. The company won a 408.2 billion won ($350 million) order from Algeria, according to a regulatory filing.

Hyundai Engineering & Construction Co. (000720) (000720 KS) climbed 2.9 percent to 64,100 won. The company and its unit won a $2.1 billion order from Venezuela, according to an e-mailed statement.

LG Electronics Inc. (066570 KS) retreated 2.9 percent to 64,200 won. JPMorgan Chase & Co. cut its share-price estimate to 110,000 won from 130,000 won, citing a delay in the recovery of its handset business.

Samsung Techwin Co. (012450) (012450 KS) climbed 1.8 percent to 79,900 won, the highest close since July 2011. Woori Investment & Securities Co. raised its share-price estimate to 95,000 won from 80,000 won, citing the company’s stronger earnings outlook.

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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