Korea Hot Stocks - Bukwang Pharm, Samsung Techwin, shipbuilders

SEOUL, April 21 (Reuters) - As of 0230 GMT on Tuesday, the
main KOSPI <.KS11> was down 1.6 percent at 1,314.88 points.
The index opened 2.13 percent lower at 1,307.95 points.

**BUKWANG PHARM DROPS AFTER HALTING KEY DRUG SALES**
Shares in Bukwang Pharmacy Co Ltd <003000.KS> plunged after
the drugmaker said it had temporarily stopped selling its
hepatitis B treatment Levovir in an exchange filing.
On Monday U.S firm Pharmasset Inc said it had
decided to discontinue a study of a licensed version of Levovir
due to serious adverse events in patients receiving it.
[nBNG444649]
"Levovir is exptected to have contributed 20 percent of the
company's total operating profit for 2008. The news is bad for
the company's earnings and its future drug development," said Cho
Yoon-jung, an analyst at Hana Daetoo Securities.
Shares in Bukwang dropped 14.9 percent to 16,850 won as of
0230 GMT.
0230 GMT

**SAMSUNG TECHWIN OUTPERFORMS AFTER POSITIVE CITI NOTE**
Shares in Samsung Techwin <012450.KS> outperformed on Tuesday
after Citigroup raised its target price on the maker of
closed-ciruit televisions and aircraft engines by 13.24 percent
to 38,500 won and upped its net profit estimates for fiscal 2009
to 122 billion won ($91.72 million) from 98 billion won.
"Both power and defense systems continued to provide stable
earnings contributions with more long-term contracts from the
military," Citi said in its report on Tuesday.
But it maintained its "sell" rating on the company.
Shares in Samsung Techwin gained 1.22 percent as of 0050 GMT.
0050 GMT

**SHIPBUILDERS GAIN ON PETROBRAS ORDER HOPES**
Shares in shipbuilders outperformed on growing hopes for
orders from Brazil's Petrobras after Petrobras
executives held individual meetings with major South Korean
shipbuilders.
"The fact that Petrobras is seeking oil vessels is not new,
but the timing was never really certain. The way things are
going, it looks like orders could be won in two to three months,"
said Martin Song, an analyst at Woori Investment & Securities.
An official at Korea Export Insurance Corp (KEIC) was quoted
as saying that "awards could begin as early as May."
[nSEO259505]
"The foremost likely beneficiaries of Petrobras interests are
Daewoo Shipbuilding and Samsung Heavy, which specialise in
offshore plants and specialised vessels respectively," Song
added.
Samsung Heavy Industries <010140.KS> was up 2.44 percent and
Daewoo Shipbuilding & Marine Engineering <042660.KS> rose 1.26
percent. STX Offshore and Shipbuilding <067250.KS>, which
recently changed its name from STX Shipbuilding, gained 4.37
percent.

($1=1330.0 Won)
(Reporting by Shin Jieun and Jungyoun Park; Editing by Chris
Lewis)
((jungyoun.park@thomsonreuters.com; +82 2 3704 5643; Reuters
Messaging: jungyoun.park.reuters.com@reuters.net))
((If you have a query or comment on this story, send an email
to news.feedback.asia@thomsonreuters.com)
Keywords: MARKETS KOREA HOT/

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