South Korea Stocks: Romanson, Cheryong, Hyundai Motor, Kia
Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 9:05 a.m. in Seoul.
The Kospi Index (KOSPI) rose 0.6 percent to 2,042.19.
Romanson Co. (026040) (026040 KS), a watchmaker with a factory in North Korea, surged 11 percent to 4,790 won. Cheryong Industrial Co. (147830) (147830 KS), which supplies electrical equipment to North Korea, jumped 8 percent to 2,980 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 3 percent to 222,500 won, while Kia Motors Corp. (000270) (000270 KS) rose 2 percent to 72,100 won. Combined sales in the U.S. rose 26 percent in February from a year earlier.
To contact the reporter on this story: Jun Yang in Seoul at jyang180@bloomberg.net
To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net
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