March 4, 2013 / 1:00 AM / 4 years ago

Korea Hot Stocks-Hyosung, NHN

SEOUL, March 4 (Reuters) - South Korea's main KOSPI share index was down 0.03 percent at 2,025.93 as of 0041 GMT.

The index opened up 0.1 percent at 0000 GMT as trading resumed after a public holiday on Friday.

Stocks on the move on Monday include:


Shares in Hyosung Corp fell 5.8 percent in early trading on Monday after news of a block deal last week and lacklustre quarterly earnings hurt investor sentiment.

Local newspaper Korea Economic Daily reported late on Thursday that Cho Hyun-moon, a son of Hyosung Group Chairman Cho Suck-rai, planned to sell a 6.8 percent stake in Hyosung Corp in a block deal over Thursday and Friday at a discount of 6.2-9.7 percent from Thursday's closing price.

The news came after Hyosung reported on Tuesday a fourth-quarter operating profit of 6 billion won ($5.54 million), a 91 percent drop from the same quarter in 2011 and below market consensus.

Hyosung Corp, a de facto holding company of Hyosung Group, is a synthetic fibre and heavy industrial equipment producer.


Shares in NHN Corp rose 3.8 percent in early trading on Monday after South Korean regulators scrapped a proposal for rules that sought to limit financial payments and losing bets in online board games.

"The news is very positive for NHN as it will take quite a while for alternative regulations to take shape, and concerns over an abrupt drop in online board game sales have eased," said Hong Jong-gil, an analyst at Korea Investment & Securities. ($1 = 1082.8250 Korean won) (Reporting by Joyce Lee; Editing by Anand Basu)

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