Korea Hot Stocks-LG Electronics surges

Wed Apr 2, 2008 10:59pm EDT
 
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SEOUL, April 3 (Reuters) - Stocks on the move on Thursday include:

As of 0235 GMT, the main KOSPI was up 0.73 percent at 1,754.72 points, led by technology shares supported by a solid earnings outlook for electronics manufactures.

The index opened 0.2 percent higher at 1,745.72 points.

**LG ELECTRONICS SURGES ON STRONG OUTLOOK**

LG Electronics (066570.KS: Quote, Profile, Research, Stock Buzz) hit a record high, jumping 5.36 percent to 137,500 won, on growing expectations it will report strong first quarter earnings results thanks to solid performance by its handset and consumer electronics divisions, analysts said.

LG, the world's fifth-largest mobile phone maker, is seen benefiting from a shakeup at No.3 handset maker Motorola, which is spinning off its loss-making handset division next year.

"For handsets, Motorola Inc's (MOT.N: Quote, Profile, Research, Stock Buzz) split could enhance LG's brand value and substantially boost its market share in North America, also lifting its earnings from the region," said Kim Ik-sang, an analyst at CJ Investment & Securities.

He added losses from its display sector would narrow during this year.

0238 GMT

(Reporting by Park Ju-min; Editing by Keiron Henderson)

 

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