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Korea Hot Stocks-Samsung SDI, defence firms
March 8, 2013 / 12:45 AM / in 5 years

Korea Hot Stocks-Samsung SDI, defence firms

SEOUL, March 8 (Reuters) - South Korea’s main KOSPI share index was down 0.1 percent at 2,002.13 points as of 0033 GMT. The index opened down 0.1 percent at 0000 GMT.

Stocks on the move on Friday:

**SAMSUNG SDI RISES ON REPORT OF SUPPLY DEAL**

Shares in Samsung SDI Co Ltd rose 3.6 percent in early trade after a local newspaper reported the battery maker will supply Volkswagen AG with electric car batteries.

South Korea’s Maeil Business Newspaper reported on Friday Samsung SDI has reached a deal to provide Volkswagen with a large number of electric car batteries.

A spokesman for Samsung SDI said the company is in talks with Volkswagen and other automakers to supply electric vehicle batteries, but nothing has been decided.

**DEFENCE STOCKS UP ON INCREASED GEOPOLITICAL RISK**

Small-cap defence stocks extended gains on signs of escalating tension between Pyongyang and Seoul.

Shares in tactical communications solutions provider Huneed Technologies rose 3.2 percent and weapons guidance systems maker Firstec Co Ltd rose 4.4 percent.

Pyongyang said in a statement carried by the official KCNA news agency on Friday that North Korea scraps “all agreements on nonaggression reached” between the two Koreas, after the U.N. Security Council voted on Thursday to tighten financial restrictions on Pyongyang in response to North Korea’s third nuclear test. (Reporting by Joyce Lee; Editing by Anupama Dwivedi)

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