South Korean Equity Movers: LG Chem, Samsung Electro-Mechanics
The Kospi index (KOSPI) rose 0.2 percent to 2,031.96. The gauge has risen 0.9 percent this week.
LG Chem Ltd. (051910) (051910 KS), the biggest South Korean chemicals maker, added 3.4 percent to 362,500 won, heading for the steepest gain since Feb. 2. The company’s earnings recovery will pick up pace in the second quarter, Tong Yang Securities said in a report today.
Samsung Electro-Mechanics Co. (001950) (009150 KS), an electronic components maker, rallied 4.6 percent to 104,500 won, poised for the highest close since May 2011. The stock was rated new buy at Shinhan Investment Corp., which cited a stronger earnings outlook and the company’s potential to be a global electronic parts maker.
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