SKorean Shares Close Higher

Thursday, February 28, 2008
According to reports, South Korean shares finished higher on Thursday, with late buying of shipbuilding and technology counters helping the key index close in positive territory. Trading was listless for most of the session as investors found little direction from Wall Street's mixed close overnight. Weak trade data released by the Bank of Korea triggered fears that growth momentum could slow and prices shoot up. The central bank said the country had a merchandise trade deficit of 1.01 billion US dollars in January as imports grew at a faster clip than exports because of the spike in oil prices. This is the first trade deficit since March 2003. But stocks found support late in the session after hopes emerged that foreign investors will return to the market after a sustained selling spree. Foreign investors remained net buyers for the third straight session. Shipbuilders advanced amid a growing belief that the strong industry fundamentals remain intact and that their valuations are still attractive. Hyundai Heavy rose 2.5 percent and Daewoo Shipbuilding & Marine Engineering gained 2.4 percent at 38,550 won. Source: Thomson

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

FedEx Completes Takeover of TNT Express

US-based FedEx Corp. completed its €4.4 billion ($4.9 billion) acquisition of Dutch TNT Express, , with integration of the companies to start immediately.   The

STX Shipbuilding Likely to Enter Court-lead Restructuring

South Korean shipbuilder STX Offshore & Shipbuilding Co Ltd will likely need to enter court-supervised receivership due to financial difficulties, the firm's lead

Statoil Says Sees European Gas Prices Bottoming Out

Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.0713 sec (14 req/sec)