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South Korea Stocks: CJ O Shopping, Infracore, Samsung Life

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Sept. 1 (Bloomberg) -- 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 rose 0.59 point to 1,880.70.

CJ O Shopping Co. (035760 KS) lost 1.6 percent to 273,700 won. The company and CJ CheilJedang Corp. (097950 KS) announced plans to buy Samsung Life Insurance Co. shares. CJ CheilJedang dropped 2.8 percent to 318,000 won. Samsung Life (032830 KS) rallied 5.5 percent to 89,700 won, the most since June 2010.

Doosan Infracore Co. (042670 KS), South Korea’s largest construction-equipment maker, added 4.8 percent to 22,800 won. The stock advanced on speculation earnings at its U.S. unit will improve and China’s excavator market will recover, said Choi Won Kyung, an analyst with Kiwoom Securities Co.

Samsung Electronics Co. (005930 KS), Asia’s biggest maker of chips, flat screens and mobile phones, rose 3.6 percent to 771,000 won, the highest close since Aug. 5. The company will reorganize its liquid-crystal display division to strengthen competitiveness, according to a statement.

STX Pan Ocean Co. (028670 KS), South Korea’s biggest bulk carrier, added 3.6 percent to 8,610 won. The Baltic Dry Index, a measure of commodity shipping costs, rose 5.3 percent to 1,619 points yesterday, according to the Baltic Exchange in London.

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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