South Korea Stocks: CJ CheilJedang, Daewoo Shipbuilding, NCsoft
South Korea’s Kospi index rose 1.02, or 0.1 percent, to 2,038.11 at the close in Seoul, the highest level since Nov. 7, 2007.
The following were among the most-active stocks in South Korean markets.
Chong Kun Dang Pharmaceutical Corp. (001630 KS) climbed 0.7 percent to 21,950 won, after rising as much as 4.6 percent earlier on speculation the company will post higher earnings in the fourth quarter. Operating profit in the period may grow 96 percent from a year earlier, said Miriam Kim, an analyst at Taurus Investment & Securities Co.
CJ CheilJedang Corp. (097950 KS), a South Korean food processor, gained 2.1 percent to 217,000 won, the most since Nov. 22. The company will raise sugar prices by an average 9.7 percent to reflect higher raw-material costs, according to a statement. The increased price will be effective Dec. 24.
Daewoo Shipbuilding & Marine Engineering Co. (042660 KS), a South Korean shipyard, added 0.7 percent to 35,000 won. The company received an order from Saga Shipholding Norway AS to build five bulk carriers. The 55,000 deadweight-ton vessels will be delivered by mid-2013, according to a statement that didn’t provide financial details.
NCsoft Corp. (036570 KS), a South Korean online-game maker, tumbled 6.6 percent to 198,000 won, the most since Oct. 13, 2009. The stock fell on concern a plan to start a baseball team will raise the company’s costs and on speculation the launch of its Blade & Soul game title will be delayed, said Min Kim, an analyst at Hyundai Securities Co.
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