South Korea Equity Movers: Hyundai Wia, LG Innotek, Samsung SDI
The Kospi index fell 0.1 percent to 2,042.72. The gauge has risen 1.2 percent for the week.
Hyundai Wia Corp. (011210) (011210 KS), an automobile-parts maker, retreated 4.3 percent to 132,500 won, the most since Jan. 2. Hyundai Motor Co. (005380) (005380 KS) and Kia Motors Corp. (000270) (000270 KS) offered to sell 2.6 million Hyundai Wia shares at a discount to yesterday’s closing price, according to terms for the deal obtained by Bloomberg News. Hyundai Motor lost 2 percent to 223,500 won, while Kia slipped 1.2 percent to 71,900 won.
LG Innotek Co. (011070) (011070 KS), which makes light-emitting diode products, added 1.4 percent to 107,500 won, heading for the highest close since May 16. Daewoo Securities Co. raised its share-price estimate to 130,000 won from 111,000 won, citing a recovery in earnings.
Samsung SDI Co. (006400) (006400 KS), which makes rechargeable batteries, advanced 3.5 percent to 147,000 won. The company’s earnings recovery will continue, driven by shipments of polymer batteries after the launch of Apple Inc. (AAPL)’s new iPad, Shinyoung Securities Co. said in a report today.
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