SEOUL, April 15 South Korea's main KOSPI share
index was down 0.7 percent to 1,911.44 points as of 0209
Stocks on the move on Monday include:
**HYUNDAI HYSCO AT OVER 2-YEAR LOW*
Hyundai Hysco, an automotive steel supplier for
Hyundai Motor, dived as much as 7.7 percent after a
local brokerage downgraded the stock to "hold" from "buy" and
cut its target price by 35 percent to 31,000 won, citing
Woori Investment & Securities expected Hyundai Hysco to post
a 37 percent drop in operating profit for the January to March
period from the previous quarter, hurt by cuts in automotive
steel prices from March.
Hyundai Hysco shares fell to 27,500 Korean won ($24.35) per
share on Monday, the lowest level in more than two years, and
have slumped nearly 40 percent this year.
**KOREA ZINC DOWN**
Shares in Korea Zinc, a South Korean maker of
non-ferrous metals including gold and silver, slumped over 11
percent after major commodity prices fell sharply on Friday, hit
by weak U.S. data and a plan for Cyprus to sell gold reserves.
U.S. silver futures for May delivery tumbled more
than 6 percent to around $24.61 an ounce on Monday, its weakest
since November 2010, after gold made a steep 5 percent decline
on Friday, its biggest drop since December 2008.
Korea Zinc generates 48 percent of its revenue from silver
and 7.4 percent from gold.
**MANDO DOWN 15 PCT**
Shares in Mando Corp tumbled by the daily limit
of 15 percent, after the auto supplier announced a plan to
support its loss-making sister company Halla Engineering &
Mando said on Friday it will spend 378.6 billion Korean won
($335.26 million) to buy new shares issued by its unit Meister.
Meister also said it will inject 338.5 billion won into Halla
Engineering & Construction by participating in a rights offering
by the builder.
Nam Kyung-moon, an analyst at KTB Investment & Securities,
downgraded Mando stocks to "suspended" from "buy", saying the
financial risks of Halla Engineering & Construction is
translating into Mando.
Shares in Halla Engineering & Construction firmed 3 percent.
($1 = 1129.2750 Korean won)
(Reporting by Hyunjoo Jin; Editing by Jijo Jacob and Anupama