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Korea Hot Stocks-Hankook Tire, Doosan Heavy

Tue Feb 19, 2008 9:18pm EST
 
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SEOUL, Feb 20 (Reuters) - Stocks on the move on Wednesday include:

As of 0208 GMT, the main KOSPI was down 0.6 percent at 1,710.93 points, hit by fuel cost-sensitive stocks such as Korean Air after oil prices rose to a record, while exporters dropped on worries high energy costs could fan inflation and dent spending.

The index opened 0.92 percent lower at 1,704.66 points.

**HANKOOK TIRE GAINS AFTER RECENT DROPS**

Hannkook Tire Co (000240.KS: Quote, Profile, Research, Stock Buzz), South Korea's top tyre maker, gained 6.8 percent to 15,700 won, staging a partial rebound from recent losses, although analysts said the outlook remained poor due to high raw material prices.

"However, I think its outlook is dim because the possibility of increasing tyre prices doesn't seem to offset an upward tendency in rubber prices", said Kim Yong-soo, an analyst at SK Securities.

Asian physical rubber prises rose again on Tuesday, supported by limited supply and rising futures contract prices on the Tokyo Commodity Exchange. [ID:nBKK36329] 0131 GMT

**DOOSAN HEAVY GAINS ON BROKER NOTE**

Doosan Heavy Industries (034020.KS: Quote, Profile, Research, Stock Buzz) jumped 3.47 percent to 134,000 won, after Mirae Asset Securities reiterated a buy recommendation, saying Doosan Heavy would benefit from an expected long-term boom in the global nuclear power plant market.  Continued...

 

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