South Korean Stocks: Ahnlab, CJ O, Korean Air, Korea Zinc
The Kospi Index (KOSPI) fell 1.1 percent to 1,986.96, the most since April 9.
Metal producers: Korea Zinc Co. (010130 KS), which producers gold and silver, lost 2 percent to 396,500 won. Poongsan Corp. (103140) (103140 KS), a copper-products maker, retreated 1.8 percent to 29,800 won. Copper futures for May delivery dropped 2.5 percent in New York on April 13. Gold futures for June delivery slid 1.2 percent, the biggest decline for a most- active contract since April 4, while silver also fell.
Ahnlab Inc. (053800) (053800 KS) rallied by the daily limit of 15 percent to 128,200 won. Ahn Cheol Soo, founder of the anti-virus software developer, will run for president in South Korea’s December election, South Korean daily JoongAng Ilbo reported, citing a person close to Ahn that it didn’t identify.
CJ O Shopping Co. (035760) (035760 KS), a South Korean home-shopping channel operator, tumbled by 15 percent to 203,400 won, heading for the lowest close since July 2010. The company plans to reduce its stake in its home shopping venture in Shanghai, according to a regulatory filing. Samsung Securities Co. cut its share-price estimate to 332,000 won from 360,000 won.
CJ Corp. (001040) (001040 KS), the biggest shareholder of CJ O Shopping, dropped 3.2 percent to 77,900 won.
Korean Air Lines Co. (003490) (003490 KS), the nation’s biggest carrier, retreated 5 percent to 48,000 won, poised for its lowest close since Jan. 25. The company may post a larger-than- expected operating loss of 92.5 billion won ($81 million) for the first quarter, Daishin Securities Co. said in a report today.
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