Bloomberg News

South Korean Stocks: Hyundai, NCsoft, Samsung Fire, Shinsung

June 29, 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 (KOSPI) rose 1.9 percent to 1,854.01, its steepest gain since June 7. The measure slumped 8 percent this quarter, the worst three- month performance since the quarter ended September.

Hyundai Motor Co. (005380) (005380 KS), South Korea’s biggest carmaker, dropped 0.6 percent to 232,500 won. Its labor union walked out of wage talks after the management showed “no sincerity” in negotiation, Kim Gi Hyuk, a spokesman for the union, said.

NCsoft Corp. (036570) (036570 KS) added 3.4 percent to 273,000 won. The South Korean game maker plans to release the latest edition of “Guild Wars” on Aug. 28, according to an e-mailed statement.

Samsung Fire & Marine Insurance Co. (000810) (000810 KS), a non-life insurer, gained 4.6 percent to 226,000 won, the most since Jan. 25. The company plans to buy back 1.4 million ordinary shares, and 90,000 preferred shares by Sept. 28, according to a regulatory filing.

Shinsung Solar Energy Co. (011930) (011930 KS) rose 3.6 percent to 3,175 won, the highest level since May 22. The company won a $24.8 million order to supply solar cells, 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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