South Korea Stocks: Hynix Semiconductor, Nexen Tire, Taewoong
Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 9:37 a.m. in Seoul. The Kospi Index (KOSPI) rose 0.9 percent to 1,829.04. The gauge has fallen 5.2 percent this week, set for its worst performance since the five days ended Sept. 25.
Wind power-related companies: Taewoong Co. (044490 KS) jumped 13 percent to 35,950 won, heading for its steepest advance since Sept. 15, 2010. Dongkuk Structure & Construction Co. (100130 KS) rallied 9.6 percent to 3,720 won. South Korean companies plan to spend 10.2 trillion won ($9.02 billion) to build a wind farm off the country’s southwest coast by 2019, the Ministry of Knowledge Economy said in an e-mailed statement.
Hynix Semiconductor Inc. (000660) (000660 KS), the world’s second- largest computer-memory chipmaker, climbed 2.8 percent to 22,100 won, paring an 11 percent retreat this week. SK Telecom Co. (017670 KS), South Korea’s biggest mobile-phone carrier, submitted a bid to buy 20 percent of Hynix Semiconductor amid an investigation into whether the group’s founding family misused funds. SK Telecom gained 0.7 percent to 146,000 won.
Nexen Tire Corp. (002350) (002350 KS), a South Korean tiremaker, added 4.7 percent to 20,200 won. The company has considered seeking an alliance with Michelin & Cie., according to a regulatory filing. No decision has been made so far, Nexen said.
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