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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (63168)	4/25/2002 1:48:16 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Asian Stocks: S. Korea's LG Chem Drops; Japan's Fuji Photo Down By Youngsam Cho quote.bloomberg.com Seoul, April 25 (Bloomberg) -- South Korean stocks fell as LG Group companies' shares plunged after the founding family of the nation's third-largest business group shuffled its shareholdings, raising concern it's backtracking on promises to give its units management independence. The Kospi index fell 2.8 percent to 889.64 after a family member sold his 14 percent stake in LG Petrochemical Co. to LG Chem Ltd. and bought its 4.3 percent stake in LG Investment & Securities Co. LG Group units made up four of the exchange's six most active stocks by value as minority shareholders fret they'll lose out. ``After Enron, foreign investors in particular are trying to avoid companies that are not transparent,'' said Jung Sang Jin, who manages $38 million in equities at Global Asset Management Co. in Seoul. He said he doesn't own LG stock or plan to buy any. In other markets, economic figures suggesting the U.S. may not be recovering as quickly as expected sent Japan's Nikkei 225 stock average down 0.2 percent and exporters in Singapore and Hong Kong lower. Taiwan Semiconductor Manufacturing Co. slid on a report Intel Corp. won't place more orders with it, dragging the TWSE Index down 0.4 percent.