South Korea Stocks: Daewoo Engineering, Korea Gas, LG Display

Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 10:49 a.m. in Seoul. The Kospi Index (KOSPI) rose 1.4 percent to 1,831.15. The gauge has lost 0.3 percent this week.

Builders: Daewoo Engineering & Construction Co. (047040 KS) rallied 6.3 percent to 9,730 won. Hyundai Engineering & Construction Co. (000720 KS) added 5 percent to 67,300 won. The builders advanced on speculation they will benefit from a potential increase in reconstruction work in Libya, said Alex Cho, an analyst with Daishin Securities Co.

Korea Gas Corp. (036460) (036460 KS), the world’s biggest buyer of liquefied natural gas, advanced 4.5 percent to 37,300 won, heading for the highest close since June 29. The company discovered natural gas at a test well off Mozambique, the Ministry of Knowledge Economy said in an e-mailed statement.

LG Display Co. (034220 KS), the world’s second-largest maker of liquid-crystal displays, added 6.2 percent to 23,900 won. The stock climbed after analysts from LIG Investment & Securities Co. to Hyundai Securities Co. said losses will narrow in the current quarter. The company yesterday reported a record quarterly loss after panels prices dropped and the won weakened.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.