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Korea Hot Stocks-Hanwha Chemical, Ahnlab, STX
March 21, 2013 / 3:25 AM / in 5 years

Korea Hot Stocks-Hanwha Chemical, Ahnlab, STX

SEOUL, March 21 (Reuters) - South Korea’s main KOSPI share index was flat at 1,959.60 as of 0313 GMT. The index opened up 0.5 percent.

Stocks on the move on Thursday include:


Hanwha Chemical rose 4 percent after Shinhan Investment Corp raised its rating to “buy” from “hold”, citing the recovery of its solar business as Chinese rival Suntech Power Holdings teeters toward bankruptcy.

China-based unit Hanwha SolarOne is expected to swing to profit and in the latter part of 2013, analyst Lee Eung-ji said in a research note.

“Suntech’s troubles are boosting Hanwha Chemical stocks as Hanwha SolarOne is a direct competitor in PV cell and panels segments,” said Son Young-joo, an analyst at Kyobo Securities.

Suntech said in a statement on Wednesday that a group of eight Chinese banks had filed a petition for the insolvency and restructuring of its main unit Wuxi Suntech Power Holdings Co Ltd.


Ahnlab fell as much as 4.8 percent after the online security firm said its servers were used to spread malicious codes which paralyzed personal computers at some of the major broadcasters and banks on Wednesday.

Ahnlab said in a statement early on Thursday that the IDs and passwords of server managers at affected firms were allegedly stolen, but there is no loophole in its servers used to install and update vaccines.

Ahnlab, whose biggest shareholder Ahn Chul-soo bowed out of a presidential race last year, said it offered vaccines to fix malicious codes on Wednesday.

Shares in Alnlab were down 3.6 percent at of 77,100 Korean won, paring Wednesday’s gains of 6.5 percent stemming from expectations of demand for online security software following the hacking incident.


STX Pan Ocean rose 3.5 percent on reports that its creditors may inject as much as 300 billion won ($268.77 million) into the cash-strapped shipper.

Local news service Edaily reported on Wednesday that Korea Development Bank may finance 150 billion won while other creditors will stump up the additional 150 billion won to help the shipper meet existing commitments.

A Korea Development Bank spokesman said the bank was reviewing whether to provide funding for STX Pan Ocean but nothing had yet been decided. ($1 = 1116.2000 Korean won) (Reporting by Somang Yang, Hyunjoo Jin and Joyce Lee; Editing by Jijo Jacob and Gopakumar Warrier)

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