South Korea Stocks: Daewoo Shipbuilding, Hana, OCI, Samsung

Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the 3:00 p.m. close of trading in Seoul.

The Kospi Index (KOSPI) rose 1 percent to 2,004.53.

Shipbuilders: Daewoo Shipbuilding & Marine Engineering Co. (042660) (042660 KS) jumped 6 percent to 31,800 won, while Samsung Heavy Industries Co. (010140) (010140 KS) rallied 5.7 percent to 40,600 won. Cheniere Energy Inc. won federal approval to build the largest U.S. natural-gas export terminal. The move may increase demand for LNG ships, according to Um Kyung A, an analyst at Shinyoung Securities Co.

Hana Financial Group Inc. (086790) (086790 KS) fell 2.5 percent to 41,550 won. There was speculation that Hana may sell new shares to bolster capital, said Ku Yong Uk, an analyst at Daewoo Securities Co. The company has no such plan, Hana Chief Financial Officer Sean Kang, said by phone.

OCI Co. (010060) (010060 KS) rose 4.7 percent to 225,000 won. First Solar Inc. said yesterday it will cut 30 percent of jobs and close plants. Industry restructuring will help ease a supply glut, according to a report from Hyundai Securities Co.

Samsung Electronics Co. (005930) (005930 KS) advanced 3.5 percent to 1,293,000 won. The company and Apple Inc. were ordered to take part in a magistrate judge settlement conference in their patent dispute in federal court in San Jose, California.

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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