South Korea Stocks: Doosan Infracore, Doosan Heavy Industries

By Kyung Bok Cho

Sept. 1 (Bloomberg) -- South Korea's Kospi index slid 23.40, or 1.6 percent, to 1,450.84 as of 9:15 a.m. in Seoul, headed for its lowest since March 28, 2007.

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

Doosan Group affiliates: Doosan Infracore Co. (042670 KS), South Korea's largest construction-equipment maker, fell 3,000 won, or 14 percent, to 18,250. Doosan Heavy Industries & Construction Co. (034020 KS), South Korea's biggest power- equipment maker, retreated 6,200 won, or 7.9 percent, to 72,200.

JPMorgan Chase & Co. cut its price estimate for Infracore by 33 percent to 20,000 won, in a report, citing declining demand in the U.S. and Europe, and the possibility of an additional capital injection into the company's U.S. Bobcat's units. The brokerage also lowered its price target for Doosan Heavy by 9.8 percent to 110,000.

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