REFILE-Korea Hot Stocks-Kia Motors falls to 14-month low
(Refiles to fix formatting)
SEOUL Oct 29 (Reuters) - South Korea's main KOSPI share index was down 0.06 percent at 1,890.31 as of 0507 GMT.
Stocks on the move on Monday include:
**KIA MOTORS ** Shares in Kia Motors fell 4 percent to trade at 59,600 won, a 14-month low.
The carmaker posted on Friday a smaller-than-expected profit margin of 7.4 percent for the third quarter, hit harder by labour strikes in South Korea than its sibling Hyundai Motor .
Hyundai Motor was trading 3.1 percent lower, weighed by Kia results.
"Investors are overreacting to (Kia's) third-quarter earnings. If you take into account the strikes and the wage negotiations, the earnings were not that bad," said Ahn Sang-jun, an analyst at Tongyang Securities.
**LG DISPLAY ** Shares in LG Display jumped 5.6 percent after the company posted its first quarterly profit in two years on Friday, prompting several brokerages to raise their price target for the South Korean panel maker.
Shares of the company are trading at over 32,150 won, their highest since July 2011.
LG Display on Friday reported 253 billion won ($230 million) in operating profit for the July-September period on strong demand from Apple Inc.
The South Korean firm is expected to further benefit from an increase in sales of tablets and smartphones, which run on its display panels. (Reporting by Somang Yang and Seongwon Chang; Editing by Jijo Jacob)
- With no sign of missing plane, search spreads far across land and sea |
- Malaysia military source says missing jet veered to west |
- Toddler found with heroin at New Jersey daycare center
- UPDATE 1-Missing Malaysian plane last seen at Strait of Malacca-source
- Ukraine appeals to the West as Crimea turns to Russia |