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Korea Hot Stocks-OCI dives after Suntech orders cancelled
April 29, 2013 / 12:50 AM / 4 years ago

Korea Hot Stocks-OCI dives after Suntech orders cancelled

April 29 (Reuters) - South Korea’s main KOSPI share index was down 0.2 percent at 1941.49 as of 0027 GMT.

Stocks on the move on Monday include:

**OCI CO LTD **

Shares in the South Korean company tumbled as much as 9.5 percent to nearly six-year low after it said on Friday three polysilicon orders worth of 1.46 trillion Korean won ($1.31 billion) from units of China’s solar panel maker Suntech Power Holdings Co Ltd were cancelled because of the latter’s financial troubles.

A 1.03 trillion won order with Wuxi Suntech Power, the biggest unit of Suntech, was called off because the unit went bankrupt, OCI said in a regulatory filing. The remaining 436 billion won deal was dropped by Suntech Power International because its European operation declared moratorium on debt repayments. ($1 = 1111.9500 Korean won) (Reporting by Hyunjoo Jin in Seoul; Editing by Anand Basu)

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