South Korea Stocks: LG Display, LG Electronics, STX, Woongjin
Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the close in Seoul. Today was an expiry day for options and futures contracts.
The Kospi Index (KOSPI) rose 0.9 percent to 2,000.76.
Apple Inc. (AAPL) suppliers: LG Display Co. (034220 KS) added 2.2 percent to 28,200 won, Hynix Semiconductor Inc. (000660) (000660 KS) climbed 2.2 percent to 29,750 won and LG Innotek Co. (011070 KS) jumped 6.9 percent to 100,500 won. Apple introduced a new version of the iPad with a sharper screen and faster chip.
Korea Exchange Bank (004940) (004940 KS) gained 1.7 percent to 8,230 won. Hana Financial Group Inc. (086790) (086790 KS) said it will buy additional Korea Exchange Bank shares, according to a regulatory filing. Hana shares climbed 3.8 percent to 40,650 won.
LG Electronics Inc. (066570) (066570 KS), the world’s second-largest maker of televisions, rallied 3.9 percent to 90,700 won. Daewoo Securities Co. raised its share-price estimate to 123,000 won from 109,000 won, citing a stronger-than-expected first-quarter earnings outlook.
STX Offshore & Shipbuilding Co. (067250) (067250 KS) rose 3 percent to 17,200. The company received a $100 million crane ship order, according to an e-mailed statement.
Woongjin Holdings Co. (016880) (016880 KS) advanced 3.6 percent to 6,330 won. The company picked Goldman Sachs Group Inc. to arrange the sale of its stake in Woongjin Coway Co. (021240 KS), according to a regulatory filing. Woongjin Coway fell 0.8 percent to 37,050 won.
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