South Korean Stocks: Hyundai Hysco, KB, Korea Zinc, SungJin
Stock Chart for Korea Zinc Co Ltd (010130)
The Kospi index fell 0.9 percent to 1,997.03. The gauge has risen 1.3 percent this week, headed for its sixth straight weekly advance.
Hyundai Hysco Co. (010520) (010520 KS), a steel-products maker, rallied 7.4 percent to 41,350 won, heading for the highest close since Nov. 17. The company said 2011 net income increased 53 percent from a year earlier. The company’s plan to expand production capacity until 2013 will help boost earnings, Korea Investment & Securities Co. said in a report today.
KB Financial Group Inc. (105560) (105560 KS) lost 2.9 percent to 43,700 won. The owner of South Korea’s largest bank posted its lowest quarterly profit in a year. Net income at KB was 219.1 billion won ($197 million) in the three months ended Dec. 31, the lowest since its revised 341 billion won loss a year earlier, the lender said in a regulatory filing.
Korea Zinc Co. (010130) (010130 KS), South Korea’s biggest zinc smelter, added 2.3 percent to 419,500 won. The company’s 2011 profit rose 31 percent from a year earlier to 676.8 billion won as silver and gold prices climbed. Tong Yang Securities raised its share-price estimate to 460,000 won.
SungJin Geotec Co. (051310) (051310 KS), a South Korean plant equipment maker, dropped 4.6 percent to 13,550 won, after reporting 2011 net loss of 59.2 billion won.
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