South Korea Equity Movers: Samsung Electro, Samsung Engineering

Shares of the following companies had unusual (KOSPI) moves in South Korea trading. Stock symbols are in parentheses and prices are as of the close in Seoul.

The Kospi Index fell 0.8 percent to 1,842.02, taking this year’s decline to 10 percent.

Samsung Electro-Mechanics Co. (009150) (009150 KS), a South Korean maker of electronic parts, retreated 6.8 percent to 80,700 won, its steepest drop since Aug. 19. The company will sell its stake in Samsung LED Co. to Samsung Electronics Co. (005930) (005930 KS) for 283 billion won ($245 million), according to a regulatory filing.

The value of the deal is lower than expected, Woori Investment & Securities Co. said in a report today. Samsung Electronics gained 0.7 percent to 1.07 million won.

Samsung Engineering Co. (028050) (028050 KS), South Korea’s largest engineering company, slipped 3.1 percent to 201,500 won, the lowest close since Oct. 5. Woori Investment & Securities Co. reduced its share-price estimate to 293,000 won, saying new orders this year will fall short of the original target.

Ssangyong Engineering & Construction Co. (012650) (012650 KS), a South Korean builder, rose 1 percent to 7,090 won, the highest level since Nov. 24. Korea Asset Management will receive letters of intent to sell a 50.1% stake in Ssangyong Engineering by Jan. 27, according to a statement.

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

To contact the editor responsible for this story: Allen Wan at awan3@bloomberg.net

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