South Korea Stocks: Celltrion, Handsome, Hyundai Home, KCC
The Kospi Index (KOSPI) rose 0.6 percent to 1,875.68, ending the week 1.8 percent higher. It’s the gauge’s second straight weekly advance.
Celltrion Inc. (068270) (068270 KS), a biopharmaceutical company, rallied 7.2 percent to 36,700 won, its biggest gain since Oct. 24. The stock gained on market speculation that the company’s 2012 sales forecast may beat analysts’ expectations, said Kim Mi Hyun, an analyst at Tong Yang Securities, said by phone today.
No date is set yet when to announce 2012 earnings guidance, officials at Celltrion’s public-relations team said.
Dongwon Industries Co. (006040) (006040 KS), a deep-sea fishing company, retreated 2.3 percent to 171,000 won. The company was ordered by Korea Exchange Inc. to comment on reports that it’s considering the takeover of a Spanish tuna-can maker.
Handsome Co. (020000) (020000 KS), an apparel maker, gained 4.4 percent to 30,550 won, the highest level since Aug. 19. Hyundai Home Shopping Network Corp. (057050) (057050 KS) decided to buy a 35 percent stake in Handsome for 420 billion won ($366 million), according to a regulatory filing. Hyundai Home shares climbed 5.7 percent to 130,000 won.
KCC Corp. (002380) (002380 KS), a building materials maker, rose 2.2 percent to 306,500 won, the highest close since Aug. 4. The company sold 2.49 million shares in Hyundai Heavy Industries Co. (009540) (009540 KS), according to a regulatory filing. Hyundai Heavy, the world’s biggest shipbuilder, slipped 0.9 percent to 289,000 won.
Korea Zinc Co. (010130 KS), which produces gold and silver, added 3.6 percent to 350,000 won. Gold futures for February delivery rose to a one-month high yesterday on the Comex in New York.
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