South Korea Stock Movers: Industrial Bank of Korea, SK Chemicals
Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 10:42 a.m. in Seoul. The Kospi Index (KOSPI) rose 18.51, or 0.9 percent, to 2,066.68, rising for a second day.
Industrial Bank of Korea (024110) (024110 KS), South Korea’s largest lender to small- and medium-sized companies, tumbled 7.1 percent to 19,100 won, heading for the biggest drop since March 30, 2009. South Korea is seeking to sell a stake in Industrial Bank of Korea, said Moon Jong Lyeok, a director at the finance ministry in charge of the sale plan.
SK Chemicals Co. (006120 KS) rallied 3.9 percent to 71,700 won, set for the highest close since May 6. Korea Exchange Inc. ordered the company to comment by 6 p.m. today on reports that it’s considering spinning off its chemical and pharmaceuticals businesses.
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