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RPT-Korea Hot Stocks-VGX up on malaria vaccine deal
January 8, 2013 / 1:40 AM / 5 years ago

RPT-Korea Hot Stocks-VGX up on malaria vaccine deal

(Repeats to fix formatting)

SEOUL, Jan 8 (Reuters) - South Korea’s main KOSPI share index was down 0.2 percent at 2,006.89 points at 0106 GMT. The index opened down 0.4 percent.

Stocks on the move on Tuesday include:

** VGX INTERNATIONAL **

VGX International shot up 11.9 percent after its U.S-based parent company, Inovio Pharmaceuticals Inc, entered into a follow-on agreement with the Bill Gates-backed PATH’s malaria vaccine initiative to develop an effective malaria vaccine.

Inovio Pharmaceuticals gained 17 percent on Monday.

** KEYSTONE GLOBAL **

Keystone Global plunged 7.1 percent after it announced on Monday that a 67.9 billion won ($63.82 million) order it secured in 2008 for a wind power plant was cancelled in 2011.

The contract is worth 67.5 percent of 2011 sales.

The regulation authority, Korea Exchange, issued a warning to the firm for its belated notice. ($1 = 1064.0000 Korean won) (Reporting by Somang Yang; Editing by Stephen Coates and Anand Basu)

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