Bloomberg News

South Korean Stocks: Hyundai Heavy, Hyundai Motor, NCsoft, OCI

July 17, 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 0.2 percent to 1,821.96, rising for a third day.

Hyundai Motor Co. (005380 KS), South Korea’s biggest carmaker, slipped 2.4 percent to 223,000 won. Hyundai Heavy Industries Co. (009540) (009540 KS) sold 3.2 million shares of Hyundai Motor at 220,000 won apiece, or 3.7 percent lower than yesterday’s price, according to data compiled by Bloomberg. Hyundai Heavy shares added 0.9 percent to 238,500 won.

NCsoft Corp. (036570) (036570 KS), an online-game maker, added 6.2 percent to 222,000 won, after tumbling 6.7 percent yesterday. The recent drop in the share-price is “excessive,” Lee Chang Young, an analyst at Tong Yang Securities Inc., said in a report.

OCI Co. (010060) (010060 KS), South Korea’s biggest polysilicon maker, retreated 3.5 percent to 204,500 won. China has started a probe into possible polysilicon dumping by South Korea, Edaily reported, citing unidentified industry officials.

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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