Bloomberg News

South Korean Equity Movers: Hanssem, OCI, SK Hynix

July 20, 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 was little changed at 1,822.93. The gauge rose 0.6 percent this week.

Hanssem Co. (009240) (009240 KS), which makes kitchen furniture, gained 1.9 percent to 16,500 won. The company plans to buy back 250,000 shares, according to a regulatory filing.

OCI Co. (010060) (010060 KS), South Korea’s biggest polysilicon maker, dropped 1 percent to 199,000 won, the lowest level since June 8. China will start anti-dumping probes on solar-grade polysilicon products imported from U.S. and South Korea, according to a statement posted on the Chinese commerce ministry’s website.

SK Hynix Inc. (000660) (000660 KS) rallied 4.2 percent to 21,250 won, its steepest gain since June 11.

Investors appear to bet that the recent share-price decline was “excessive,” and demand in the third quarter may be better than earlier estimated, Kim Hyung Sik, an analyst at Taurus Investment & Securities Co., said by phone today. The stock tumbled 9.6 percent in the first three days of this week.

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

To contact the editor responsible for this story: Allen Wan at awan3@bloomberg.net


Silicon Valley State of Mind
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus