South Korea Stocks: Halla Engineering, Hyundai Motor, SK Telecom
The Kospi Index rose 1.2 percent to 1,847.98, snapping a four-day, 2.6 percent loss.
Telecoms: SK Telecom Co. (017670) (017670 KS), South Korea’s largest mobile-phone operator, rose 2.2 percent to 138,000 won. The current share-price is excessively undervalued and the company’s average revenue per user is likely to rise, Daishin Securities Co. said in a report today.
LG Uplus Corp. (032640) (032640 KS) added 1.9 percent to 6,960 won. The company’s share-price estimate was raised to 9,500 won from 8,000 won at Mirae Asset Securities Co., which said operating profit may gain 40 percent in 2012.
Hyundai Motor Co. (005380) (005380 KS), South Korea’s largest automaker, climbed 1.4 percent to 224,500 won, heading for the highest close since Dec. 7. The company won the North American Car of the Year award after selling a record number of vehicles in the U.S. The Elantra compact sedan beat Ford Motor Co.’s (F) Focus and Volkswagen AG’s Passat, the Automotive Press Association announced at the North American International Auto Show.
Affiliate Kia Motors Corp. (000270) (000270 KS) gained 1.1 percent to 67,300 won.
Halla Engineering & Construction Corp. (014790) (014790 KS) tumbled 9.2 percent to 12,300 won, heading for its steepest drop since Oct. 5. The South Korean builder plans to sell about 8.2 million new shares, according to a regulatory filing.
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