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Kumho Asiana Group units jump on stake sale report

Wed Sep 10, 2008 8:38pm EDT

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SEOUL, Sept 11 (Reuters) - Shares in Kumho Asiana Group units rallied after a local media report that the group was considering selling a stake in unlisted Kumho Life Insurance.

"The Kumho Life stake sale report is boosting shares related to Kumho Asiana Group (as) the group's lately been the subject of liquidity worries," said Pyun Joon-ho, a market analyst at Kyobo Securities.

"Reports of its interest in a stake sale has eased those worries a bit," Pyun added.

Kumho Industrial (002990.KS) jumped 9.65 percent to 18,750 won and Kumho Tire (073240.KS) was trading 5.29 percent higher at 8,360 won.

(Reporting by Park Jung-youn; editing by Jonathan Hopfner)



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