South Korea Stocks: Poongsan, Ssangyong Motor, STX Pan Ocean

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 0.4 percent to 1,845.55, following a 1.5 percent gain yesterday.

Bulk carriers: STX Pan Ocean Co. (028670) (028670 KS), South Korea’s biggest bulk carrier, slipped 1.6 percent to 6,000 won. Korea Line Corp. (005880) (005880 KS), the second-biggest, sank 0.7 percent to 28,600 won. The Baltic Dry Index, a measure of commodity shipping costs, fell 3.8 percent yesterday, according to the Baltic Exchange in London.

Metal producers: Poongsan Corp. (103140 KS), a copper- products maker, added 4.5 percent to 30,050 won, heading for the highest close since Dec. 12. Korea Zinc Co. (010130) (010130 KS), the nation’s biggest zinc smelter, gained 1.1 percent to 323,500 won. Copper futures for March delivery advanced 2.8 percent on the Comex in New York yesterday, the biggest gain for a most- active contract since Nov. 30. Zinc also climbed in London.

Ssangyong Motor Co. (003620) (003620 KS) jumped 15 percent to 8,970 won, rising by the daily limit for a fourth day. Expectations for investment by parent Mahindra & Mahindra Ltd. continues to boost the stock, Shin Chung Kwan, an analyst at KB Investment & Securities Co., said by phone today.

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.