South Korea Stocks: Poongsan, Ssangyong Motor, STX Pan Ocean
The Kospi Index (KOSPI) fell 0.4 percent to 1,845.55, following a 1.5 percent gain yesterday.
Bulk carriers: STX Pan Ocean Co. (028670) (028670 KS), South Korea’s biggest bulk carrier, slipped 1.6 percent to 6,000 won. Korea Line Corp. (005880) (005880 KS), the second-biggest, sank 0.7 percent to 28,600 won. The Baltic Dry Index, a measure of commodity shipping costs, fell 3.8 percent yesterday, according to the Baltic Exchange in London.
Metal producers: Poongsan Corp. (103140 KS), a copper- products maker, added 4.5 percent to 30,050 won, heading for the highest close since Dec. 12. Korea Zinc Co. (010130) (010130 KS), the nation’s biggest zinc smelter, gained 1.1 percent to 323,500 won. Copper futures for March delivery advanced 2.8 percent on the Comex in New York yesterday, the biggest gain for a most- active contract since Nov. 30. Zinc also climbed in London.
Ssangyong Motor Co. (003620) (003620 KS) jumped 15 percent to 8,970 won, rising by the daily limit for a fourth day. Expectations for investment by parent Mahindra & Mahindra Ltd. continues to boost the stock, Shin Chung Kwan, an analyst at KB Investment & Securities Co., said by phone today.
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