Reuters: Hot Stocks: Korea Hot Stocks-Hyosung, NHN

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Korea Hot Stocks-Hyosung, NHN Mar 4th 2013, 00:59 SEOUL, March 4 | Sun Mar 3, 2013 7:59pm EST SEOUL, March 4 (Reuters) - South Korea's main KOSPI share index was down 0.03 percent at 2,025.93 as of 0041 GMT. The index opened up 0.1 percent at 0000 GMT as trading resumed after a public holiday on Friday. Stocks on the move on Monday include: **HYOSUNG FALLS ON NEWS OF BLOCK DEAL** Shares in Hyosung Corp fell 5.8 percent in early trading on Monday after news of a block deal last week and lacklustre quarterly earnings hurt investor sentiment. Local newspaper Korea Economic Daily reported late on Thursday that Cho Hyun-moon, a son of Hyosung Group Chairman Cho Suck-rai, planned to sell a 6.8 percent stake in Hyosung Corp in a block deal over Thursday and Friday at a discount of 6.2-9.7 percent from Thursday's closing price. The news came after Hyosung reported on Tuesday a fourth-quarter operating profit of 6 billion won ($5.54 million), a 91 percent drop from the same quarter in 2011 and below market consensus. Hyosung Corp, a de facto holding company of Hyosung Group, is a synthetic fibre and heavy industrial equipment producer. **NHN GAINS AS REGULATIONS SCRAPPED** Shares in NHN Corp rose 3.8 percent in early trading on Monday after South Korean regulators scrapped a proposal for rules that sought to limit financial payments and losing bets in online board games. "The news is very positive for NHN as it will take quite a while for alternative regulations to take shape, and concerns over an abrupt drop in online board game sales have eased," said Hong Jong-gil, an analyst at Korea Investment & Securities. ($1 = 1082.8250 Korean won) (Reporting by Joyce Lee; Editing by Anand Basu) Link this Share this Digg this Email Reprints

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