December 20, 2012 / 12:51 AM / 5 years ago

Korea Hot Stocks-Park-related shares rally after election

SEOUL, Dec 20 (Reuters) - South Korea’s main KOSPI share index was up 0.2 percent at 1,997.25 points as of 0037 GMT. The junior Kosdaq index climbed 0.4 percent.

Stocks on the move on Thursday include


A number of small-cap stocks which local media reports said were known to be related to South Korea’s president-elect Park Geun-hye surged by the daily limit of 15 percent after the conservative ruling party lawmaker beat her left-wing challenger Moon Jae-in on Wednesday.

The shares affected include those reportedly owned by Park’s brother or relatives - EG and Dayou Smart Aluminium .

“Relations to the president-elect is lifting sentiment for the firms. But they do not change the fundamental value of the companies,” said Kim Hyeong-ryeol, an analyst at Kyobo Securities.

Baby product makers also surged, as Park, who will become the country’s first female president in February, is known to try to address South Korea’s low birth rates. They include Boryung Medience and Agabang & Company

In contrast, shares which are reportedly connected to Moon plunged by 15 percent. They include Wooridul Life Sciences and Barunson. (Reporting By Hyunjoo Jin; Editing by Eric Meijer)

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