South Korea Stocks: Jusung, Kia Motors, LG, Samsung Electronics
South Korea’s Kospi index rose 20.94, or 1.1 percent, to 1,950.26 at the close in Seoul. The gauge rose for a third day to its highest level since Nov. 10.
The following were among the most-active stocks in South Korean markets.
Liquid-crystal display equipment makers: Jusung Engineering Co. (036930 KS) jumped 4.6 percent to 19,250 won. Avaco Co. (083930 KS) gained 5.1 percent to 14,400 won. SFA Engineering Corp. (056190 KS) rose 3.3 percent to 48,650 won.
Samsung Electronics, Asia’s biggest maker of chips, flat screens and mobile phones, advanced 4.8 percent to 859,000 won, the most since Oct. 9, 2009.
“There seem to be high expectations for the company’s Galaxy Tab tablet computer,” said Lee Jin Woo, a fund manager at KTB Asset Management Co., which manages $9.9 billion in assets in Seoul. “That, coupled with some optimism about the firm’s first-quarter earnings, drove shares sharply higher.”
Kia Motors Corp. (000270 KS), an affiliate of Hyundai Motor Co., rose 1.8 percent to 51,400 won, after reporting a 48 percent gain in its U.S. sales to 26,601 vehicles for last month.
LG Electronics Inc. (066570 KS), South Korea’s second- largest electronics maker, gained 1.5 percent to 105,000 won, after rising as much as 3.4 percent earlier. The company’s share-price estimate raised to 150,000 won from 120,000 won at Daishin Securities Co., which said in a report today the company will swing to an operating profit in the first quarter of 2011.
LG Household & Health Care Ltd. (051900 KS), a South Korean maker of household cleaning and personal care products, added 3 percent to 397,000 won. The company was raised to “buy” at Deutsche Bank AG.
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