Broker Center sponsored links

Korea Hot Stocks-Kia Motors jumps, Doosan Heavy down

Thu Apr 10, 2008 11:11pm EDT
 
Email | Print | | Reprints | Single Page
[-] Text [+]

SEOUL, April 11 (Reuters) - Stocks on the move on Friday include:

As of 0256 GMT, the main KOSPI was up 0.03 percent at 1,765.23 points, paring small early gains, with LG Display (034220.KS: Quote, Profile, Research, Stock Buzz) down 5.4 percent to 43,700 won on worries that its main TV maker clients are being squeezed in a price war.

The index had opened 0.2 percent higher at 1,768.13 points.

**KIA MOTORS JUMPS ON TALK OF STAKE PURCHASE**

Shares in Kia Motors (000270.KS: Quote, Profile, Research, Stock Buzz) surged 10.09 percent to 12,000 won on talk fund manager Mirae Asset had bought a six percent stake in the car maker.

Under South Korean stock exchange rules purchases of a stake of five percent or more have to notify the exchange of the purchase within five days.

Representatives of Kia and Mirae were not immediately available for comment.

Traders added the shares were also boosted by upbeat expectations for the auto industry, helped by a weaker Korean won which boosts Korean exports' price competitiveness.

Affliate Hyundai Motor Co (005380.KS: Quote, Profile, Research, Stock Buzz), the country's top auto maker, gained 3.31 percent to 81,200 won.  Continued...

 

Featured Broker sponsored link

Editor's Choice

Photo

A selection of our best photos from the past 24 hours.  View Slideshow 

Most Popular on Reuters