Bloomberg News

CORRECT: South Korean Equity Movers: NHN, GS, Hyundai, NCSoft

November 08, 2012

(Corrects Hyundai Development 3Q earnings figure.) Kospi index falls 1.1% at open in Seoul, with 70 stocks up, 552 down.

ADVANCERS: * NHN Corp. (035420 KS) +1.2%; 3Q net income 126.8b won vs est. 117.4b won (22 analysts).

DECLINERS: * GS Engineering & Construction (006360 KS) -6.8%; co. reported 74% drop in 3Q operating profit * Hyundai Development (012630 KS) -3.6%; 3Q oper. profit 27b won vs 108.4b won yr earlier * NCSoft (036570 KS) -5.6%; Hyundai Securities cuts PT to 260,000 won from 293,000 won, citing lower-than-expected sales of new games; Woori Investment & Securities also reduces PT to 290,000 won from 330,000 won * LG Electronics (066570 KS) -1.7%; Co. may be fined by European Union antitrust regulators within weeks over price-fixing agreements for cathode-ray tubes used in TVs, four people said; LG didn’t immediately respond to calls and e-mails seeking comment.

To contact the reporter on this story: Jun Yang in Seoul at jyang180@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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