South Korean Stocks: Ssangyong Motor Falls, LG Electronics Gains
Shares of the following companies had unusual moves in Seoul trading. Stock symbols are in parentheses and prices are as of the 3 p.m. close.
The Kospi index (KOSPI) rose 1.1 percent to 1,981.13, adding to a weekly gain of 1.3 percent.
Ssangyong Motor Co. (003620) (003620 KS) fell 3.3 percent to 9,190 won, the lowest since Jan. 19. The carmaker’s production this month may be affected by disruptions of component supplies from Japan following the earthquake there, Mahindra & Mahindra Ltd.’s automotive division President Pawan Goenka said in Mumbai yesterday. Ssangyong imports some “critical parts” from Japan, Goenka said. Mahindra owns 70 percent of the South Korean automaker.
LG Electronics Inc. (066570) (066570 KS) gained 1.1 percent to 100,500 wo, the most in two weeks. The world’s third-largest maker of mobile phones plans to introduce an Android-based tablet computer in Japan this month even after the earthquake, said Ken Hong, a Seoul-based spokesman said by telephone.
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