Seoul Shares Close at New High on Shipbuilding

Friday, May 18, 2007
South Korean stocks hit a fresh closing high Thursday as investors picked up shipbuilding and machinery shares, taking a cue from overnight gains in U.S. markets, analysts said. The South Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.98 points, or 0.94 percent, to 1,615.58. Volume was moderate at 445.7 million shares worth 4.67 trillion won (US$5.03 billion), with winners outpacing losers 544 to 226.

Shipbuilders led the gain with top shipyard Hyundai Heavy Industries rising 6.53 percent to 285,500 won. Steel shares gained ground. No. 2 steelmaker Hyundai Steel advanced 2.45 percent to 48,150 won after a local brokerage raised its price estimate for the shares. Tech blue chips traded in negative territory. Tech heavyweight Samsung Electronics fell 0.7 percent to 566,000 won and chip giant Hynix Semiconductor shed 1.79 percent to 30,250 won on a possibility of the second-quarter operating loss. But consumer electronics giant LG Electronics gained 2.25 percent to 68,100 won on a bright earnings outlook. Source: Yonhap Financial shares also lost ground with top lender Kookmin Bank falling 0.82 percent to 84,400 won. U.S. stocks ended higher Wednesday on good economic data and takeover reports. The Dow Jones industrial average added 0.77 percent, and the tech-heavy Nasdaq composite index rose 0.88 percent. The local currency ended at 928.1 won to the U.S. dollar, down 4.1 won from Wednesday's close, as foreign exchange authorities said they would step in to keep the won from rising if needed, dealers said.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

Seacor Takes Delivery of 10,800 HP Crewboat

Seacor Marine is building ever larger and more powerful mono-hull crew/supply boats. The first of these to be delivered is the 202x34-foot Alex F. McCall with some very impressive statistics.

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

Navy

Subsea Defense & the Changing Paradigm of Submarine Programs

Technology and dynamic mission profiles have driven change in the defense industry, Hydro Group Plc Managing Director Doug Whyte, explores the changing paradigm of submarine programs,

Rolls-Royce Wins US Marine Corps Contract

Rolls-Royce has been awarded a new, two-year contract to provide aftermarket engine support for the US Marine Corps and Air Force V-22 fleets, which provides

US Navy Evaluating SEWIP for LCS

The U.S. Navy is evaluating a scaled-down version of the Surface Electronic Warfare Improvement Program (SEWIP) system for potential incorporation on future Littoral Combat Ships (LCS),

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Salvage Ship Electronics Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1617 sec (6 req/sec)