KT&G Rises After BofA Says Weaker Won Is Positive for Earnings
KT&G Corp. (033780) climbed as much as 5 percent in Seoul trading after Bank of America’s Merrill Lynch said a decline in the won will increase earnings from exports. South Korea’s biggest tobacco maker climbed to 76,400 won as of 1:44 p.m. on the Korea Exchange. The benchmark Kospi Index added 1.5 percent. The won fell yesterday to the lowest level this year.
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