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Korea Hot Stocks-LG Display, Kangwon Land
SEOUL, Aug 20 - Stocks on the move on Wednesday include:
As of 0217 GMT, South Korea's benchmark KOSPI index <.KS11> was down 0.5 percent at 1,533.73 points, weighed down by worries about the U.S. economy.
The index opened 0.62 percent lower at 1,531.87 points.
**LG DISPLAY DOWN ON GLOOMY EARNINGS OUTLOOK**
Shares in LG Display Co Ltd <034220.KS> fell 2.84 percent to 29,100 won on a grim outlook for its third-quarter earnings led by a sharp fall in panel prices and sluggish panel output.
"We expect LG Display's third-quarter results to be well below management's guidance," JP Morgan said in a research note. JP Morgan lowered its price target on LG Display to 31,000 won from 36,000 won.
The U.S. brokerage also mentioned a possible negative impact from an LG Display downturn on stakeholder LG Electronics <066570.KS> since LG Display accounts for a significant proportion of LG Electronics' bottom-line earnings.
Shares in LG Electronics were down 1.33 percent to 111,500 won.
"Falling panel prices are not likely to rebound for the short term on faltering demand for LCD amid an economic slowdown," Lee Jeong, an analyst at Hana Daetoo Securities, said in a report.
0208 GMT"
**KANGWON LAND TUMBLES ON REGULATION FEARS**
Shares in Kangwon Land <035250.KS>, a casino operator, tumbled on Thursday ater a regulator unveiled guidelines for new rules governing the domestic gaming industry.
The National Gaming Control Commission on Tuesday released new gaming regulation proposals that could substantially limit gaming industry revenues, according to analysts.
"This new development is certainly negative for Kangwon Land. If all the suggestions by the commission are adopted, it will be difficult for the company to grow revenue," said Lee Heui-jung, an analyst at SK Securities, in a note on Wednesday.
"I doubt all the changes will be implemented as stiff opposition is expected. Still, sentiment towards Kangwon Land will be weak for sometime,"
Shares in Kangwon Land plunged 13.5 percent to 20,500 won as of 0148 GMT.
(Reporting by Park Ju-min and Park Jung-youn; Editing by Jonathan Hopfner)
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