Sept. 8 (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 rose 0.7 percent to 1,846.64, rising for a second day.
Daewoo Securities Co. (006800 KS) tumbled 15 percent, or daily limit, to 11,700 won. The company plans to sell 136.6 million new shares to raise 1.4 trillion won ($1.3 billion), according to a filing. Other brokerages also dropped on concern they will take similar steps as South Korea’s government encourages them to increase their scale to boost global competitiveness.
Samsung Securities Co. (016360 KS) lost 5.9 percent to 55,500 won. Woori Investment & Securities Co. (005940 KS), which said it’s considering various ways to increase its capital, plunged 15 percent to 11,100 won.
Honam Petrochemical Corp. (011170 KS) gained 3.8 percent to 384,000 won. The stock rose on speculation higher prices of ethylene glycol and Chinese demand will help boost earnings, said Park Yeon Ju, an analyst at Daewoo Securities Co.
Korea Kumho Petrochemical Co. (011780 KS) added 2.7 percent to 171,000 won, rising for a second day. The synthetic rubbers maker’s earnings will recover from September on lower raw material costs, Tong Yang Securities Inc. said in a report.
KT&G Corp. (033780 KS), a South Korean tobacco maker, rallied 2.1 percent to 71,500 won. KT&G was among seven companies chosen by Agricultural Bank of Greece SA to proceed to the next phase of its sale of a 50.4 percent stake in tobacco unit SEKAP SA, according to an Athens bourse filing.
To contact the reporter on this story: Saeromi Shin in Seoul at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org