April 16 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the close in Seoul.
The Kospi Index fell 0.8 percent to 1,992.63.
Metal producers: Korea Zinc Co. (010130 KS), which produces gold and silver, lost 2.4 percent to 395,000 won. Poongsan Corp. (103140 KS), a copper-products maker, retreated 0.7 percent to 30,150 won. Copper futures for May delivery dropped 2.5 percent in New York on April 13. Gold futures for June delivery slid 1.2 percent, the biggest decline for a most-active contract since April 4, while silver also fell.
Ahnlab Inc. (053800 KS) surged by the daily limit of 15 percent to 128,200 won. Ahn Cheol Soo, founder of the anti-virus software developer, will run for president in South Korea’s December election, South Korean daily JoongAng Ilbo reported, citing a person close to Ahn that it didn’t identify.
CJ O Shopping Co. (035760 KS), a South Korean home-shopping channel operator, tumbled by 15 percent to 203,400 won, the lowest close since July 2010. The company plans to reduce its stake in its home-shopping venture in Shanghai, according to a regulatory filing. Samsung Securities Co. cut its share-price estimate to 332,000 won, from 360,000 won. CJ Corp. (001040 KS), the biggest shareholder of CJ O Shopping, dropped 3.6 percent to 77,600 won.
Hyundai Motor Co. (005380 KS), South Korea’s biggest carmaker, added 1.9 percent to 263,000 won. Daewoo Securities Co. raised its share-price estimate to 324,000 won from 290,000 won, citing an improved earnings outlook.
Korean Air Lines Co. (003490 KS), the nation’s biggest carrier, retreated 4.8 percent to 48,100 won, its lowest close since Jan. 25. The company may post a larger-than-expected operating loss of 92.5 billion won ($81 million) for the first quarter, Daishin Securities Co. said in a report today. Korean Air declined to comment on the earnings forecast in an e-mail.
To contact the reporter on this story: Saeromi Shin in Seoul at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com