South Korea Stocks: Lotte Shopping, SK Innovation, Yungjin
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 (KOSPI) fell 39.90, or 1.9 percent, to 2,046.63, the biggest drop since May 23.
Drugmakers: Yungjin Pharmaceutical Co. (003520 KS) climbed 8.5 percent to 1,090 won. Samsung Pharmaceutical Ind. Co. (001360 KS) jumped 15 percent to 3,700 won, the steepest gain since April 5. The companies advanced after the nation’s health ministry said it may allow 44 over-the-counter drugs to be sold at supermarkets.
Refiners: SK Innovation Co. (096770 KS) sank 4.4 percent to 219,000 won. S-Oil Corp. (010950) (010950 KS) dropped 4.3 percent to 145,500 won. GS Holdings (078930) Corp. (078930 KS) fell 3.1 percent to 85,800 won. Crude oil yesterday tumbled below $95 a barrel for the first time since February.
Lotte Shopping Co. (023530 KS), a South Korean department- store owner, tumbled 7.2 percent to 487,000 won, the biggest drop since April 8, 2009. The company said in a filing it plans to sell convertible bonds worth 979 billion won ($900 million).
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