South Korean Stocks: Keystone, Kumho Petro, LG International
Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 10:55 a.m. in Seoul. The Kospi Index fell 0.4 percent to 1,867.87. The gauge has risen 0.7 percent this week, set for a second straight weekly gain.
Keystone Global (012170) (012170 KS) jumped by the daily limit of 15 percent to 3,505 won, poised for the highest close since April 27. The company signed an agreement to buy Revelation Energy, which owns a coal mine in the U.S. state of West Virginia, according to a regulatory filing.
Kumho Petro Chemical Co. (011780) (011780 KS) dropped 0.8 percent to 132,000 won. The company’s second-quarter operating profit may fall short of analysts’ estimates, E*Trade Securities Co. said in a report.
LG International Corp. (001120) (001120 KS), a trading company, retreated 3.1 percent to 37,250 won. Korea Investment & Securities Co. reduced its share-price estimate to 52,000 won from 90,000 won, citing weaker earnings outlook.
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