BLBG:South Korea Stocks: Vieworks, Korea Zinc, Young In, S-Oil
Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the 3 p.m. close in Seoul. The Kospi Index (KOSPI) was little changed at 2,130.21.
Medical companies: Makers of medical equipment and software surged for a second day after Samsung Electronics Co. said yesterday it’s seeking to buy companies making MRI scanners and X-ray machines. Vieworks Co. (100120 KS) surged 15 percent to 12,450 won, extending yesterday’s 15 percent jump. Infinitt Healthcare Co. (071200 KS) gained 5.3 percent to 9,540 won.
Mirae Asset Securities Co. said the stocks have “attractive” valuations for acquisitions.
Korea Zinc Co. (010130 KS), which produces gold and silver, rose 4 percent to 460,500 won. Gold futures rose to a record $1,607.90 an ounce in New York.
Young In Frontier Co. (036180 KS), a South Korean biomedical technology developer, surged 15 percent to 3,450 won. Samsung BioLogics, a venture between Samsung Group units and Quintiles Transnational Corp., will build a second plant from 2014 with a capacity three times larger than its existing facility, Chief Executive Officer Kim Tae Han said in an e-mail in response to queries from Bloomberg News. Young In provides research and development support to Samsung, according to Shin Ji Won, an analyst at Mirae Asset Securities Co. in Seoul.
S-Oil Corp. (010950) (010950 KS) fell 4.1 percent to 140,500 won. The oil refiner was downgraded to “trading buy” from “buy” at Daewoo Securities Co., with a 12-month price estimate of 170,000 won.
To contact the reporters on this story: Jun Yang in Seoul at jyang180@bloomberg.net
To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net