South Korea Stocks: Cheil Worldwide, Kumho Tire

Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 10:04 a.m. in Seoul. The Kospi Index (KOSPI) fell 2.8 percent to 1,802.27.

Cheil Worldwide Inc. (030000) (030000 KS), an advertising company, added 3.6 percent to 17,250 won. Shinyoung Securities Co. raised its share-price estimate to 23,000 won, citing a 2012 earnings outlook, in a report today.

Kumho Tire Co. (073240 KS), a tiremaker, fell 6.3 percent to 11,850 won, set for the biggest drop since Aug. 19. The company plans to sell 8.15 million new shares, according to a filing.

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

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

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