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South Korea Stocks: Hyundai, IMarketKorea, Korea Line, Lotte

Aug. 2 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the 3 p.m. close in Seoul. The Kospi Index fell 51.04, or 2.4 percent, to 2,121.27, the biggest drop since May 23.

Exporters: Samsung Electronics Co. (005930 KS), Asia’s biggest maker of chips, flat screens and mobile phones, fell 2.1 percent to 852,000 won. LG Electronics Inc. (066570 KS), which gets about 30 percent of its revenue in North America, lost 1.2 percent to 79,900 won, the lowest close since July 14. Hyundai Motor Co. (005380 KS), South Korea’s largest automaker, sank 4.9 percent to 224,000 won. Manufacturing indexes from Asia to the U.S. to Europe fell in July as demand weakened and the global recovery from recession lost momentum.

iMarketKorea Inc. (122900 KS), a procurement services provider, tumbled 15 percent, or the daily limit, to 22,450 won. Samsung Electronics and its affiliates plan to sell a combined 58.7 percent stake in iMarketKorea, Samsung Group said in a statement.

Korea Line Corp. (005880 KS), South Korea’s second-largest operator of dry-bulk ships, surged 15 percent to 9,220 won. The stock rose by the daily limit for a second straight day after the company said it aims to reduce debt by selling new shares to creditors under a turnaround plan.

Lotte Shopping Co. (023530 KS), a department-store owner, rallied 3.8 percent to 480,000 won, the biggest gain since May 27. Samsung Securities Co. raised its share-price estimate to 620,000 won from 568,000 won.

To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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