Korea's Shipbuilders Rise on Country's Top Ranking for Orders
Shares of South Korean shipbuilding companies jump, boosted by the country's tally of orders in January to October as well as a positive outlook for the sector.
outh Korea's volume of orders in Jan-Oct ranked the highest, with the country securing about 45 pct of total orders, according to industry sources citing the lastest data from Clarksons Research.
South Korea is expected to remain the top ranked for ship orders this year as it exceeds No. 2 China at 31 pct, according to the report. Shares of Hyundai Heavy Industries leap as much as 6.6 pct; Daewoo Shipbuilding and Samsung Heavy rise 5.8 pct and 5.1 pct, respectively.
The sub-index for transportation equipment was trading up 3.3 pct. The broader market remained steady as of 0339 GMT.