South Korea Stocks: Daewoo Ship, Hanjin Heavy, Nexolon, SDI
The Kospi Index rose 1.3 percent to 1,899.76, following a two-day, 2.3 percent retreat.
Daewoo Shipbuilding & Marine Engineering Co. (042660) (042660 KS), a shipyard, retreated 0.7 percent to 28,650 won. A client in Europe canceled a 589.3 billion won ($515 million) order, according to a regulatory filing.
Hanjin Heavy Industries & Construction Co. (097230) (097230 KS) rallied 4.1 percent to 22,800 won, the highest level in three months. The company’s orders and financial structure will improve in 2012, Tong Yang Securities said in a report today.
Nexolon Co. (110570 KS), which makes silicon ingots and wafers used in solar cells, rose 1.3 percent to 4,300 won, the highest close since Nov. 15. Renewable energy demand in developing countries will increase, Hyundai Securities Co. said in a report today.
Developing nations led by China and India pledged they’d work toward an agreement that would limit their fossil fuel emissions for the first time, a move that represents the biggest advance in the fight against global warming in 14 years.
Samsung SDI Co. (006400) (006400 KS), a rechargeable battery maker, jumped 6.8 percent to 149,500 won, the highest price since August. There is speculation that the company’s earnings will improve in 2012, helped by an expected increase in demand for lightweight ultrabook laptops, said Kim Byung Ki, an analyst with Kiwoom Securities Co.
SDI’s client Samsung Electronics Co. said its annual mobile-phone sales reached a record 300 million units this year, according to an e-mailed statement yesterday. Samsung Electro- Mechanics Co. (009150) (009150 KS), which supplies electronic parts to Samsung Electronics, also rose 4.4 percent to 88,700 won.
To contact the editor responsible for this story: Darren Boey at email@example.com