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Korea Hot Stocks-Banks, Hynix, LG Display

Wed Apr 9, 2008 11:15pm EDT
 
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SEOUL, April 10 (Reuters) - Stocks on the move on Thursday include:

As of 0301 GMT, the main KOSPI was up 0.51 percent at 1,763.70 points, recouping early losses on worries over a global economic slowdown, with chip makers such as Hynix Semiconductor Inc (000660.KS: Quote, Profile, Research, Stock Buzz) up strongly.

The index opened 0.52 percent lower at 1,745.60 points.

**BANKS RISE ON DEREGULATION HOPES**

Shares in banks jumped on growing expectations that the government will be able to quickly implement deregulation policies on the financial sector after securing a parliamentary majority in Wednesdays South Korean elections.

Kookmin Bank (060000.KS: Quote, Profile, Research, Stock Buzz) rose 3.9 percent to 64,000 won, and Hana Financial Group (086790.KS: Quote, Profile, Research, Stock Buzz) gained 4.0 percent to 46,850 won.

"Restrictive policies such as the rule that prohibits industry capital from holding stakes in local banks are expected to ease sooner in the aftermath of the election," said Yoo Jae-sung, an analyst at Samsung Securities.

0257 GMT

**HYNIX GAINS ON HOPES FOR PRICE RECOVERY**  Continued...

 

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