South Korea Stocks: Hyundai Mobis, Korea Zinc, Kumho, Samsung
Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the close in Seoul. The Kospi Index (KOSPI) fell 1.1 percent to 1,909.03. The gauge rose 7.9 percent in October, its best monthly performance since March.
Metals-related companies: Korea Zinc Co. (010130 KS), the nation’s biggest zinc smelter, lost 6 percent to 329,000 won. Poongsan Corp. (103140 KS), a copper-products maker, fell 2.3 percent to 34,500 won. Copper for three-month delivery on the London Metal Exchange dropped as much as 3.7 percent. Zinc fell as much as 3 percent.
Hyundai Mobis (012330) Co. (012330 KS), South Korea’s biggest auto- parts maker, retreated 6.1 percent to 323,000 won, its steepest drop since Oct. 5. Woori Investment & Securities Co. and LIG Investment & Securities Co. reduced their share-price estimates, citing weaker-than-expected third-quarter earnings.
Kumho Industrial Co. (002990 KS), a builder, rallied 2.5 percent to 7,900 won, the highest level since Aug. 18. The company is considering various measures, including selling new shares, to improve its financial profile, according to a regulatory filing.
Samsung Electronics Co. (005930 KS), Asia’s biggest maker of chips, flat screens and mobile phones, added 2.4 percent to 968,000 won, the highest level since Feb. 7. Mirae Asset Securities Co., Tong Yang Securities Inc. and Hyundai Securities Co. raised their share-price estimates. Samsung, competing with Apple Inc. (AAPL) for leadership in smartphone sales, said on Oct. 28 it had record profit and sales at its handsets division, helping mask a slump in earnings from computer-memory chips and panels.
To contact the reporter on this story: Saeromi Shin in Seoul at firstname.lastname@example.org
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