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Korea Hot Stocks-LG Display, OCI
March 7, 2013 / 1:01 AM / 5 years ago

Korea Hot Stocks-LG Display, OCI

SEOUL, March 7 (Reuters) - South Korea’s main KOSPI share index was down 0.4 percent at 2,012.15 points as of 0043 GMT. The index opened down 0.1 percent at 2,018.63.

Stocks on the move on Thursday include:


Shares in LG Display Co Ltd rose 4 percent in early trade on expectations that key Apple supplier Sharp’s new alliance with Samsung Electronics could mean an increase in LG Display’s sales to Apple.

Sharp said on Wednesday that it will raise 10.3 billion yen ($110 million) through a share offer to Samsung Electronics in a bid to bolster its finances.

“Sharp’s standing within Apple could weaken on account of this investment (...) as Sharp increases its business with Samsung Electronics which could serve as a chance for LG Display to expand its business with Apple,” said Lee Seung-chul, an analyst at Shinyoung Securities.

Both Sharp and LG Display are Apple suppliers of display panels.


Shares in OCI Co Ltd rose 3.8 percent in early trade after a report by a local brokerage said the polysilicon manufacturer’s production regained full capacity and the price of polysilicon jumped more than 7 percent in a week.

“Since cutting production below 100 percent capacity in Sept. 2012, OCI has returned to 100 percent production as demand increases for solar energy facilities and inventory remains low,” wrote Choi Ji-hwan, an analyst at NH Securities. (Reporting by Joyce Lee; Editing by Anupama Dwivedi)

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