Korean Stock Market closed for "Chuseok" holiday.
Most people got a bonus during this holiday and many will be back in the market.
Pension funds should be buying again at these level.
LG Display has seen it's bottom.
Significant spike in 2008 copper priceStory link: Significant spike in 2008 copper price
by Gill Montia
Credit Suisse has joined in speculation over the future price of copper with the issue of a comprehensive report looking at 2008 market trends.
The bank’s analysts have based their conclusions on the study of 66 copper projects currently under way, or planned.
The projects have the potential to collectively produce over eight-million additional tons of copper by 2015, but the report concludes that “a significant spike” in 2008 prices is still possible and that prices could exceed $3 lb as a result of undersupply.
Over the past ten years, annual demand for copper has increased on average by 3.9%. Forecasts for 2008 indicate that supply will only feed an additional 2.3% into the market.
Looking at the longer term, the Credit Suisse analysts predict that the demand-supply ratio will reverse and that annual global copper demand will need to increase by over 4.3% to maintain a stable market.
However, these predictions assume that all 66 new projects reviewed will come in on schedule and this is unlikely because of ongoing global labour and equipment shortages.
The projects also require an investment of $66 billion and could be adversely affected by low grades and political and infrastructural risk, particularly in the case of Central African prospects.
These and other factors could be instrumental in reducing long-term supply growth to only 3.6% a year.
LG DISPLAY CO LTD KRW5000(KSE: 034220.KS)
Last Trade: 27,400.00
Trade Time: 2:01AM ET
Change: 1,900.00 (7.45%)
Prev Close: 25,500
Up again today! Almost 4%. I read Korean pension accounts are buying at these levels.
Keep the faith. This is a good company. Remember Buffets advise. "buy the company, not the stock" or was the Peter something? ( who I don't like and kind of petered out anyway)
LG Display(KSE: 034220.KS)
Last Trade: 26,150.00
Trade Time: 12:49AM ET
Change: 950.00 (3.77%)
Prev Close: 25,200
Indeed. I believe it is an example of a good company which no one wants to buy. All the foreign capital has left Korea, and there is not enough local buying interest to boost the stock.
Korea might re-think its policies toward outsiders before they have another 1997 type of crisis there.
There is nothing wrong with this company. While growth projections for the future are muted, the company still has an incredible PE of around FOUR!!!
Tons of cash in the bank, a great workforce but a stupid chairman who won't buy buy his stock with all that cash.
It is a great buy at these levels. I bought at 16 and I am not worried, since it is in my IRA.
I have shifted to buying dividend paying stocks only, or I would definately buy at these levels.
FWIW: LG Display is a SOLID COMPANY. There is no need for anything, including a merger with competition. Competition breeds innovation and the last thing this industry needs is consolidation. And the last I heard, Korea and Taiwan (the Republic of China) are two different countries.
LG Display(KSE: 034220.KS)
Last Trade: 25,500.00
Trade Time: 12:10AM ET
Change: 1,000.00 (4.08%)
Prev Close: 24,500
The stock has been for two days in Korea- - Monday while we were closed an overnight as well.
It's will open about 10% down.
Which isn't much any more!!
10% of 12 bucks that is!!
I bought it at 16 and saw 31.
Sucks is the right word in my opinion.
This is a great company. I drove by Gumi again yesterday, the heart of Korean industry. I know people who work for LG Display personally.
They are hard workers and this is a great company.
I wouldn't even consider selling since it is my IRA. I would only consider buying more.
When I am not sure , however.
Could be right. Someone bought a put spread. Looks like they bought the Jan 12.5's and sold the Jan 15s for a credit of about 1.35.
Good analysis. It did seem like the sell of in LG Display followed the downgrades. Who cares that profits soared YOY in the hundreds of percent!
This stock hit thirty when it was unprofitable, then it goes to it's current levels with a PE of less than 4, and a mountain of cash in the bank.
The Korean people are followers is what they are.
They drove this stock down and they will eventually drive it back up.
But again, why the stupid chairman of the company doesn't buy back his stock is beside me because it will have to be Korean money which causes the stock to go up because...
All foreign capital has left Korea due to their ant-foreigner sentiment.
The Korean share is at about 28,000 won which is roughly $28.
Which would make two ADR's worth about $14 a piece for each Korean share.
Thanks a lot. Where do you get this information?