S. Korea Stocks: Hite Brewery, Kumho Petrochem, LG Electronics
The following were among the most-active stocks in South Korean markets. Stock symbols are in parentheses.
Bulk carriers: STX Pan Ocean Co. (028670 KS), South Korea’s biggest bulk carrier, fell 1.3 percent to 11,400 won. Korea Line Corp. (005880 KS), the second largest, dropped 0.6 percent to 26,700 won. The Baltic Dry Index, a gauge of commodity-shipping costs, retreated for an 18th day, losing 1.6 percent to 1,519, the lowest level since April 14, 2009.
Daewoo Engineering & Construction Co. (047040 KS), a builder, climbed 0.7 percent to 14,000 won, after rising as much as 4 percent earlier. The company plans to sell a 70 percent stake in Vietnam unit Daeha Co., Ltd. for 124.4 billion won ($111 million) to recoup investment, according to a filing.
Hite Brewery Co. (103150 KS), a beer maker, lost 2.4 percent to 123,000 won. The company was rated “reduce” in new coverage at Nomura Holdings Inc., which cited the outlook for volumes and market share.
Korea Kumho Petrochemical Co. (011780 KS), a synthetic rubbers maker, climbed 5.6 percent to 113,500 won. “Synthetic rubber prices are continuing to rise, boosting the company’s earnings outlook,” said Cho Seung Yeon, an analyst at HMC Investment Securities Co.
LG Electronics Inc. (066570 KS), the world’s third-largest mobile-phone maker, added 1.3 percent to 115,000 won. Mirae Asset Securities Co. raised its share-price estimate to 160,000 won, saying the company’s mobile-phone business may turn around in the first quarter.
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.