Korea Hot Stocks-Asiana Airlines, Shipbuilders surge

SEOUL, March 19 (Reuters) - Stocks on the move on Wednesday include:

As of 0256 GMT, the main KOSPI was up 2.41 percent at 1,627.03 points, led by banks such as Kookmin Bank 060000.KS after a deep U.S. interest rate cut and better-than-expected earnings by two top U.S investment banks soothed investors concerned by the Bear Sterns fire sale.

The index opened 2.36 percent higher at 1,626.28 points.

**ASIANA AIRLINES JUMP AS SET TO LIST ON KOSPI**

Shares in Asiana Airlines 020560.KQ, the country's second biggest carrier, soared 5.8 percent to 6,380 won after it reported late on Tuesday that it had been told by the Korea Exchange that it satisfied all necessary conditions for listing on the main KOSPI index from the junior Kosdaq.

"Asiana Airlines' transfer from Kosdaq market to KOSPI, which should happen in April, will lead to increased market value and more buying from institutional investors," said Jay Ryu, an analyst at Mirae Asset Securities.

However, rival Korean Air Co (003490.KS) lost 1.64 percent to 53,900 won and the junior Kosdaq .KQ11 was up 1.9 percent.

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**SHIPBUILDERS SURGE ON HOPES FOR STRONG EARNINGS**

Shares in shipbuilders gained on expectations of good quarterly results. Hyundai Heavy Industries Co (009540.KS), the world's biggest shipbuilder, rose 5.34 percent to 345,000 won, and rival Samsung Heavy Industries Co (010140.KS) gained 4.7 percent to 30.050 won.

"The recent weakening of the won bodes well for their outlook, and cheap share prices are attractive to investors," said Song Jhe-hak, an analyst at Woori Investment & Securities.

Daewoo Shipbuilding and Marine Engineering Co Ltd (042660.KS) jumped 7.12 percent to 31,600 won after it said to the Korea Exchange that its monthly operating profit in February surged 318 percent from the previous year.

Citigroup said in a research report dated Tuesday that DSME was expected to show "clear upward margin trend," helped by increases in selling prices.

($1=1009.2 Won)

(Reporting by Park Ju-min; Editing by Keiron Henderson)