South Korea Stocks: Able C&C, Daewoo Ship, GS Holdings, NHN

By Kyung Bok Cho

Aug. 8 (Bloomberg) -- South Korea's Kospi index gained 4.72, or 0.3 percent, to close at 1,568.72 in Seoul. The measure lost 0.3 percent this week.

The following are among the most-active stocks in South Korean markets.

Able C&C (078520 KS), a cosmetics maker, rose 250 won, or 8.9 percent, to 3,050, the biggest advance since June 24. Second- quarter net income was 1.57 billion won ($1.5 million), compared with a loss for the year-ago period, the company said.

Daewoo Shipbuilding & Marine Engineering Co. (042660 KS), the world's third-largest maker of ships, climbed 1,000 won, or 2.8 percent, to 37,000, the most since July 24. The shares rose after the company's announcement of a $700 million order spurred speculation there will be more contracts for offshore structures, said Lee Jae Kyu, an analyst at Mirae Asset Securities Co.

GS Holdings Corp. (078930 KS), which operates the nation's second-biggest oil refiner, slid 850 won, or 2.4 percent, to 34,450, the lowest since July 8. Mirae Asset Securities Co. cut its price estimate by 25 percent to 52,000 won, in a report, saying a decline in crude oil prices had worsened the outlook for refining margins.

Hyundai Merchant Marine Co. (011200 KS), the country's second-largest shipping line, lost 1,300 won, or 3.3 percent, to 38,450, the most since July 14. Second-quarter profit fell 91 percent to 10.8 billion won because of a year-earlier gain from selling assets, the company said.

LG Corp. (003550 KS), the holding arm of South Korea's fourth-largest industrial group, climbed 1,100 won, or 1.7 percent, to 67,400, the highest since June 30. The stock is cheap as the value of the company's land assets and stakes in affiliates is larger than its market value, Macquarie Group Ltd. said in a report.

LG Electronics Inc. (066570 KS), Asia's second-largest handset maker, gained 3,000 won, or 2.7 percent, to 113,500, the highest since July 24. A drop in the share price triggered by concern about second-half earnings was ``excessive,'' Prudential Investment & Securities Co. said in a report. Third-quarter operating profit, or sales minus the cost of goods sold and administrative expenses, will be ``stable'' at more than 600 billion won, the brokerage said.

NHN Corp. (035420 KS), which cut its projection for full- year sales and operating margin yesterday, dropped 13,700 won, or 7.8 percent, to 161,300, the steepest decline since May 7. Citigroup Inc. cut its recommendation to ``sell,'' from ``buy,'' in a report, citing the lowered forecast and a slowing domestic economy.

Seoul Semiconductor Co. (046890 KS), an electronic-parts maker, lost 500 won, or 4.7 percent, to 10,250, the lowest since March 19, 2007. JPMorgan Chase & Co., Goldman, Sachs & Co. and Merrill Lynch & Co. all cut their price estimates, in separate reports, citing ``worse than expected'' second-quarter earnings.

To contact the reporter for this story: Kyung Bok Cho in Seoul at kcho7@bloomberg.net