Reuters: Hot Stocks: Korea Hot Stocks-Kumho Industrial, Hanjin Shipping, food makers

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Korea Hot Stocks-Kumho Industrial, Hanjin Shipping, food makers Dec 17th 2012, 01:49 SEOUL | Sun Dec 16, 2012 8:49pm EST SEOUL Dec 17 (Reuters) - South Korea's main KOSPI share index was down 0.10 percent at 1,992.99 points as of 0146 GMT. The index opened down 0.09 percent at 0000 GMT. Stocks on the move on Monday include: **KUMHO INDUSTRIAL FALLS ON REVERSE STOCK SPLIT PLAN** Shares in Kumho Industrial Co Ltd fell 5 percent in early trading Monday, after a steep rise of 14.7 percent on Friday. The builder and the holding company of South Korea's Kumho Asiana Group said after market close on Friday it decided on a capital reduction of 85.7 percent, from 862.7 billion won to 123.2 billion won, by combining 7 preferred shares and 1 ordinary share into 1 ordinary share, effective March 4. **HANJIN SHIPPING UP ON HOPES OF HIGHER FREIGHT CHARGES** Shares in Hanjin Shipping Co Ltd rose 5.3 percent early on Monday on expectations that freight charges will rebound, adding to the shipper's bottom line. "The Shanghai Containerized Freight Index (SCFI) announced over the weekend it saw a steep on-week gain of 11.3 percent, signalling that freight charges have hit the bottom and are set to rise in future," said Lee Sang-heon, an analyst for HI Investment & Securities. **FOOD & BEVERAGE MAKERS UP ON HOPES OF RISE IN PRICES** Shares of South Korean food & beverage manufacturers rose 2.1 percent on Monday, after local online media Money Today reported the country's largest food processor CJ Cheiljedang Corp informed large discount stores it will raise prices after the presidential election on Dec. 19, and other food makers are expected to follow suit. A spokeswoman for CJ Cheiljedang confirmed the company informed large discount stores of its intent to raise food prices, but said the timing and the extent of the price the increase is still being negotiated. (Reporting by Joyce Lee; Editing by Anupama Dwivedi) Link this Share this Digg this Email Reprints

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