South Korea Stocks: Hynix Semiconductor, Samsung, Speco, Victek
The Kospi Index (KOSPI) rose 1.1 percent to 2,008.91. The gauge fell 1 percent this week, the most since the week to Jan. 1.
Defense-related companies: Victek Co. (065450) (065450 KS), a maker of electronic warfare equipment, tumbled 13 percent to 2,350 won. Speco Co. (013810) (013810 KS) lost 10 percent to 2,800 won, while Huneed Technologies (005870) (005870 KS), a military communication equipment maker, sank 10 percent to 3,510 won. North Korea defied international condemnation and launched a rocket today that failed minutes after liftoff.
“If the rocket launch was successful, the international community especially the U.S. would have put even more pressure on the North,” Choi Hyun Jae, an analyst at Tong Yang Securities Inc., said by phone today. “The failure removes some of the steam here. Investors who bought defense stocks ahead of the launch are also taking some profits.”
Hynix Semiconductor Inc. (000660) (000660 KS), the world’s second- largest maker of computer memory chips, rallied 6.6 percent to 29,000 won, the most since Feb. 28. A recent share-price drop and better-than-expected first-quarter personal-computer shipments are driving the stock higher, Choi Do Yeon, an analyst at LIG Investment & Securities Co., said by phone. The global personal-computer industry unexpectedly grew in the first quarter, according to data from Gartner Inc. (IT)
There’re also expectations that prices for dynamic random access memory chips will rebound starting from mid-May, Brian Park, an analyst at Tong Yang Securities Inc., said by phone.
Samsung Electro-Mechanics Co. (009150) (009150 KS), an electronic components maker, gained 2.6 percent to 100,500 won. The company plans to sell 269,867 shares of Samsung Electronics Co. (005930) (005930 KS), according to a regulatory filing. Samsung Electronics fell 0.4 percent to 1.268 million won.
To contact the reporter on this story: Saeromi Shin in Seoul at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com