October 30, 2012 / 1:15 AM / in 5 years

Korea Hot Stocks-Korea Aerospace up on military drone hopes

2 Min Read

SEOUL, Oct 30 (Reuters) - South Korea's main KOSPI share index was up 0.39 percent at 1,898.57 points as of 0424 GMT. The index opened up 0.13 percent.

Stocks on the move on Tuesday include:

**Korea Aerospace Industries **

Korea Aerospace Industries said on Tuesday that it has been selected as the preferred bidder to participate in the development of military unmanned surveillance planes. Shares of the company recovered from early fall and were up 3.7 percent.

**Kia Motors **

Shares in Kia Motors rose 3.01 percent to 61,600 won, recouping some of Monday's losses after reporting a smaller-than-expected profit in the third quarter.

**Hyundai Motor **

**Hyundai Mobis **

Shares in Hyundai Motor Co and Hyundai Mobis Co Ltd also recovered on Tuesday after investors overreacted to concerns over fourth-quarter earnings in the face of a strengthening currency.

Hyundai Motor rose 2.28 percent while auto-parts supplier Hyundai Mobis gained 3 percent.

Kim Yeon-woo at Hanyang Securities said the stocks were set to recover as investors had overreacted, sending the shares down on Monday. (Reporting by Somang Yang; Editing by Anand Basu and Gopakumar Warrier)

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