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Hynix, Hyundai Steel, Samsung, Taihan: S. Korea Equity Preview |
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administrator |
DATE |
2007-10-05 10:29:54 |
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Hynix, Hyundai Steel, Samsung, Taihan: S. Korea Equity Preview
By Kyung Bok Cho
Oct. 5 (Bloomberg) -- The following shares may rise or fall in South Korea. Prices refer to the previous close. This preview includes news announced after markets shut yesterday. Stock symbols are in brackets after the company names.
The Kospi index slid 0.5 percent to 2,003.60, the first drop in eight days. The Kosdaq gained 0.5 percent to 814.72. Kospi 200 futures expiring in December retreated 0.4 percent to 258.35, while the underlying index lost 0.7 percent to 254.92.
Hynix Semiconductor Inc. (000660 KS): Shinyoung Securities Co. cut its 12-month price estimate for the world\'s second-largest computer-memory maker by 9 percent to 40,000 won, in a report. Third-quarter operating profit, or sales minus the cost of goods sold and administrative expenses, will be 290 billion won ($317 million), missing market consensus, wrote Lee Seung Woo, an analyst.
Hynix lost 1,300 won, or 4.2 percent, to 29,700.
Hyundai Steel Co. (004020 KS): CJ Investment & Securities Co. lifted its six-month price estimate for South Korea\'s second- largest steelmaker by 9.4 percent to 98,000 won, in a report. Profit will rise after the company raised prices for hot-rolled coil, wrote Chung Ji Yun, an analyst.
Hyundai Steel added 700 won,, or 0.9 percent, to 82,800.
Lotte Confectionery Co. (004990 KS): South Korea\'s biggest candy and cookie maker, said yesterday it will buy 30 percent of Vietnam\'s Bien Hoa Confectionery Joint-Stock Co. for 17 billion won and take control of management. MoneyToday had earlier reported the acquisition.
Lotte dropped 30,000 won, or 1.9 percent, to 157,900.
Posco (005490 KS): The world\'s fourth-biggest steelmaker said it may buy a stake in a Chinese mill it didn\'t name. ``We are closely monitoring a restructuring in the Chinese steel industry and investment conditions,\'\' the company said in a regulatory filing, without giving details.
Posco fell 65,000 won, or 8.5 percent, to 700,000.
Samsung Electronics Co. (005930 KS): Third-quarter operating profit at the semiconductor business of the world\'s biggest computer-memory maker will be about 815 billion won after chip prices fell, Lehman Brothers Holdings Inc. said in a report. That trails the brokerage\'s previous estimate of 903 billion won, wrote analysts including Chung Chang Won.
``We expect major changes for overall investment, strategy, and operations\'\' in Samsung\'s chipmaking business, such as increasing investment or considering takeovers or alliances, Chung wrote in the report.
Samsung retreated 14,000 won, or 2.4 percent, to 565,000.
SK Telecom Co. (017670 KS): The biggest of South Korea\'s three wireless operators is in the ``final stages\'\' of improving contract terms with its partner in Vietnam, which could become a ``valuable asset\'\' for SK Telecom, UBS AG said in a report.
SK Telecom advanced 2,000 won, or 0.9 percent, to 218,500.
Taihan Electric Wire Co. (001440 KS): South Korea\'s second- largest cable and wire maker said yesterday it will not make a joint bid with Onse Telecom Corp. for a stake in Hanarotelecom Inc. (033630 KS). ``We don\'t think the synergy effect from buying Hanaro will be as big as we had previously considered,\'\' the company said in a regulatory filing.
Taihan climbed 4,600 won, or 8.9 percent, to 56,500. Hanaro, the country\'s second-largest provider of broadband Internet services, slid 200 won, or 2.3 percent, to 8,450.
Last Updated: October 4, 2007 19:25 EDT
Source: http://www.bloomberg.com/apps/news?pid=20601084&sid=ae2NMqPBBh64&refer=stocks |
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