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

Shipbuilding

Alaska Class Ferries to Be Built in Ketchikan

Announced by Governor Sean Parnell Saturday, September 20, the State of Alaska and Vigor Industrial have reached a final agreement to construct two Alaska Class Ferries at Vigor Alaska in Ketchikan.

MN 100: Sneed Shipbuilding, Inc.

17112 Market Street Channelview, TX 77530 E-mail: cesneed@sneedshipbuilding.com Website: sneedshipbuilding.com Owner: Clyde Sneed Owner: Mitch Jones Number

MN 100: Tampa Yacht Manufacturing LLC

4350 62nd Avenue North Pinellas Park, FL 33556 Tel: (727) 954-3435    Email: robert.stevens@tampa-yacht.com Website: www.tampa-yacht.com President & CEO:

Navy

Australia, New Zealand Navies Intercepts Drugs off Africa

A combined Australian and New Zealand operation 260 km off the coast of Africa has seized more than 5.6 metric tons of cannabis resin worth an estimated $280 million (AUD).

China's Navy Enters Strait of Hormuz

Bandar Abbas, home of Iran's navy and the main port in the strategically important Strait of Hormuz, is currently hosting two Chinese naval vessels on a five-day goodwill visit,

ONR Funds UW Oceanographic R/V Refit Contract

The US Department of Defense informs that the University of Washington (UW), Seattle, Washington, is being awarded a $12,776,050 cost reimbursement contract for

 
 
Maritime Contracts Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.1030 sec (10 req/sec)