South Korean Stocks: Halla Climate, LG Chem, Lotte Shopping
Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 9:31 a.m. in Seoul. The Kospi index dropped 0.1 percent to 1,873.04, halting a two-day advance.
Halla Climate Control Corp. (018880) (018880 KS), which makes automotive air control equipment, rallied 13 percent to 28,100 won, poised for its steepest gain since May 2009. Its biggest shareholder, Visteon Corp., offered 28,500 won per share to buy the rest of the company.
LG Chem Ltd. (051910) (051910 KS), the biggest South Korean chemicals maker, added 2.2 percent to 309,000 won. Samsung Securities Co. raised its share-price estimate 7.6 percent to 355,000 won.
Lotte Shopping Co. (023530) (023530 KS), South Korea’s largest department store operator, climbed 3.2 percent to 325,500 won, heading toward the highest close since May 16. The company was named as the preferred bidder to buy home appliance retailer Himart Co. (071840 KS). Shares of Himart added 2.9 percent to 59,500 won, while Shinsegae Co. (004170 KS), a Lotte competitor, retreated 1.2 percent to 213,000 won.
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