December 4, 2012 / 2:30 AM / in 5 years

Korea Hot Stocks-Cold snap sends apparel brands higher

SEOUL, Dec 4 (Reuters) - South Korea’s main KOSPI share index was down 0.5 percent at 1,930.14 as of 0221 GMT. The index opened down 0.38 percent.

Stocks on the move on Tuesday include:


Apparel companies bucked the market fall on Tuesday, driven by expectations that South Korea’s unusually cold weather will boost demand for their products.

Handsome Corp rose 4.1 percent and LG Fashion gained 2.6 percent, helping send the textile & wear sub-index higher.

“The cold snap is expected to continue in December after November temperatures were lower than previous years by more than five Celsius degrees on average, raising expectations about consumption about apparels,” Seo Jeong-yeon, an analyst at Shinyoung Securities, said. (Reporting By Hyunjoo Jin and Chang Seong-won; Editing by Jijo Jacob)

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