By Saeromi Shin
April 13 (Bloomberg) -- South Korea’s Kospi index rose 11.08, or 0.8 percent, to 1,347.12 as of 9:23 a.m. in Seoul, gaining for a third day.
The following are among the most-active stocks in South Korean markets.
Automakers: Hyundai Motor Co. (005380 KS), South Korea’s biggest carmaker, rose 3.4 percent to 66,900 won, set for the highest since Oct. 15. Kia Motors Corp. (000270 KS), an affiliate, climbed 5.3 percent to 10,200 won, the highest since Nov. 5.
South Korea, Asia’s third-biggest automaking nation, will provide 500 billion won ($375 million) in research and development loans to aid the struggling industry. The government will offer long-term loans via state-run funds and banks to help carmakers develop fuel-efficient and environment-friendly technologies, according to an e-mailed statement yesterday. South Korea announced on March 26 plans to bolster domestic auto sales with a 70 percent tax cut for buyers who trade in old vehicles this year for new ones that emit less pollution.
NCsoft Corp. (036570 KS), the biggest South Korean online- game maker, gained 9.7 percent to 142,000 won, set for a record. NCsoft was raised to “buy” from “neutral” at Goldman, Sachs & Co., which cited a potential success of the company’s “Aion” title in China. The brokerage lifted its share-price estimate to 159,000 won from 72,000 won, in a report today.
To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net
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