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Korea Hot Stocks-KTF up

Sun Apr 13, 2008 10:09pm EDT

Stocks

   

SEOUL, April 14 (Reuters) - Stocks on the move on Monday include:

As of 0137 GMT, the main KOSPI was down 1.8 percent to 1,747.59 points, led by POSCO (005490.KS) falling 4.7 percent to 466,500 won.

The index opened 1.84 percent lower at 1,746.88 points.

**KTF UP AFTER ITS BUYBACK SHARES**

Shares in KTF Co LTd 032390.KS climbed 3.83 percent to 28,450 won after the country's second-biggest mobile services carrier reported on Friday that it would buy back and cancel 122.1 billion won ($125.2 million) worth of its own shares.

"KTF's buyback seemed earlier than usual, and I think this is a step closer to KTF's merger with KT," said Stan Jung, an analyst at Woori Investment & Securities.

Fixed line operator KT Corp (030200.KS) already owns some 52.2 percent of KTF and is planning to absorb the mobile firm.

0137 GMT

($1=975.5 Won)

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



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