Reuters: Hot Stocks: KOREA HOT STOCKS-YG Entertainment lacklustre after Psy's new song launch

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KOREA HOT STOCKS-YG Entertainment lacklustre after Psy's new song launch Apr 12th 2013, 01:49 SEOUL, April 12 | Thu Apr 11, 2013 9:49pm EDT SEOUL, April 12 (Reuters) - South Korea's main KOSPI share index was down 0.2 percent at 1,946.39 as of 1001 GMT. The junior Kosdaq index was up 0.7 percent. Stocks on the move on Friday: **YG Entertainment DOWN ** Shares in YG Entertainment inched down after the management agency's rapper Psy released his much-anticipated new single, "Gentlemen," with investors cautious about whether it will be able to replicate the blockbuster success of "Gangnam Style". "I heard the song, and personally, I don't think it will be as popular as Gangnam style. Gangnam Style was so popular so it will be difficult to repeat the success of the song," said Park Hyun-myeong, an analyst at Shinhan Investment Corp. YG Entertainment was down 0.7 percent after rising for a third day. **AURORA WORLD UP BY DAILY LIMIT ** Aurora World rose by the daily limit of 15 percent after reports said the company signed a deal to produce and sell character products of Korea's popular singers such as Psy globally with YG Entertainment, in a bid to capitalise on the popularity of Korean pop culture. Media reports said Aurora World, whose YooHoo & Friends toys feature Happy Meals at McDonald's stores in Europe, signed the licensing deal on Thursday with YG Entertainment, a leading South Korean management agency which has Big Bang boy group and 2NE1 girl group. (Reporting by Hyunjoo Jin; Editing by Subhranshu Sahu) Link this Share this Digg this Email Reprints

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