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South Korea Stocks: Samsung, Seoul Broadcasting, STX Offshore

Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the 3 p.m. close in Seoul. The Kospi Index (KOSPI) fell 4.57, or 0.2 percent, to 2,122.14, falling for a second day.

Samsung Electronics Co. (005930 KS), the world’s largest maker of televisions and flat screens, lost 1.5 percent to 909,000 won. The company reported first-quarter profit fell 34 percent after weakening consumer demand pushed down prices of TVs and liquid-crystal displays.

Seoul Broadcasting System (034120) (034120 KS), a South Korean broadcasting company, advanced 5.1 percent to 29,850 won, the steepest increase since Feb. 10. HI Investment & Securities Co. said in a report today the company’s first-quarter earnings will top analyst estimates.

STX Offshore & Shipbuilding Co. (067250 KS), a South Korean shipyard, jumped by the daily limit of 15 percent to 27,250 won. It was the stock’s biggest advance since Sept. 3, 2008. Mirae Asset Securities Co. rated the shares “buy” in new coverage, saying in a report dated yesterday the stock is “massively” undervalued. STX Corp. (011810 KS), the biggest shareholder of the shipbuilder, climbed 10 percent to 28,000 won.

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

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net

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