Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 3 p.m. close in Seoul. The Kospi Index fell 74.72, or 3.7 percent, to 1,943.75, the lowest close since March 15. The stock gauge fell 11 percent in a four-day retreat, the steepest losing streak since November 2008. For the week, the index lost 8.9 percent.
Refiners: SK Innovation Co. (096770 KS), South Korea’s biggest oil refiner, lost 5.6 percent to 185,000 won. GS Holdings Corp. (078930 KS) sank 7.3 percent to 77,500 won. S-Oil Corp. (010950 KS) dropped 7.8 percent to 130,500 won. Oil fell in New York, set for the biggest weekly decline in three months after wiping out its gain for 2011 yesterday, on speculation fuel demand will falter as U.S. economic growth stalls and Europe’s debt crisis worsens.
Poongsan Corp. (103140 KS), a copper-products maker, slid 4.4 percent to 41,750 won, the lowest close since July 12. Copper futures fell yesterday by the most in 10 weeks.
KT Corp. (030200 KS), South Korea’s largest phone and Internet company, dropped 3.5 percent to 38,800 won, the biggest drop since Dec. 29. The company posted second-quarter profit that missed analyst estimates as the company spent more buying smartphones to meet rising demand for the devices.