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South Korea Stocks: Hyosung, Osung, Hana Financial Group

Nov. 23 (Bloomberg) -- South Korea’s Kospi index fell 0.8 percent to 1,928.94 at the close of trading in Seoul.

The following are among the most-active stocks in South Korea markets.

Hyosung Corp. (004800 KS) gained 3.7 percent to 111,000 won. The chemicals and trading company was rated new “overweight” at HSBC Holdings Plc, with a target price of 170,000 won.

Osung LCT Co. (052420 KS) rose 5.4 percent to 13,600 won. The solar energy equipment maker was rated new “buy” at LIG Investment & Securities Co, with a target price of 23,000 won.

Shinhan Financial Group Co. (055550 KS) rose 1.4 percent to 43,550 won. The company was raised to “market perform” from “underperform” at Keefe, Bruyette & Woods, with a target price of 48,200 won.

Hyundai Steel Co. (004020 KS) rose 0.5 percent to 110,000 won. South Korea’s second-largest steelmaker today started operations at its second blast furnace, according to an e-mailed statement from the company. The company may also build a third furnace, President Woo Yoo Cheol said.

Hana Financial Group Inc. (086790 KS) gained 5.7 percent to 37,000 won, the biggest daily rise since Jan. 11. The company will likely sign an agreement on Nov. 24 with Lone Star Funds to purchase a stake in Korea Exchange Bank, Hana Chief Executive Officer Kim Seung Yu said late yesterday. Korea Exchange Bank (004940 KS) fell 4.3 percent to 12,350 won.

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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