South Korean Stocks: Cheil Industries, Hyundai Hysco, Woori
The Kospi Index (KOSPI) fell 0.1 percent to 1,994.41, the lowest level since March 7.
Cheil Industries Inc. (001300 KS) advanced 2.5 percent to 92,800 won. The company may post first-quarter operating profit of 83.9 billion won ($74 million), higher than previously estimated, Daewoo Securities Co. said.
Hyundai Hysco Co. (010520) (010520 KS), a steel-products maker, retreated dropped 5 percent to 40,800 won, the steepest loss since Nov. 10. The company’s rating was cut to hold from buy at Deutsche Bank AG, which cited recent gains in its share-price.
Woori Finance Holdings Co. (053000) (053000 KS) climbed 2.1 percent to 12,450 won. The South Korean financial company may post first-quarter net income of 652 billion won, topping consensus estimates, Daishin Securities Co. said in a report today. The stock, which slipped 10 percent in the last four trading days, is oversold, the brokerage said.
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