South Korea Stocks: Romanson, Cheryong, Hyundai Motor, Kia, STX
The Kospi Index (KOSPI) rose 0.2 percent to 2,034.63, its highest close since Aug. 3. The gauge gained 0.7 percent this week.
Cheryong Industrial Co. (147830) (147830 KS), which supplies electrical equipment to North Korea, jumped 7.3 percent to 2,960 won. Romanson Co. (026040) (026040 KS), a watchmaker with a factory in North Korea, rose 1.4 percent to 4,360 won. The communist country agreed to a moratorium on nuclear tests and long-range missile launches in an accord with the U.S.
Hyundai Motor Co. (005380) (005380 KS) gained 1.9 percent to 220,000 won, while Kia Motors Corp. (000270) (000270 KS) rose 1.4 percent to 71,700 won. Combined sales in the U.S. rose 26 percent in February from a year earlier.
STX Pan Ocean Co. (028670) (028670 KS), a bulk carrier, surged 9 percent to 8,270 won, the most since Feb. 8. Samsung Securities Co. raised its price estimate on the stock to 12,000 won from 9,000 won, as analyst Park Eun Kyung said an easing supply glut is expected to improve the outlook for the industry.
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