Korea Hot Stocks-Shipping firms,STX Shipbuilding gains

SEOUL, March 7 (Reuters) - Stocks on the move on Friday include:

As of 0317 GMT, the main KOSPI was down 2.19 percent to 1,660.19 points led by financials such as Kookmin Bank (060000.KS: Quote, Profile, Research, Stock Buzz) on fears that the U.S. credit markets are headed for further turmoil.

The index opened 0.9 percent lower at 1,682.17 points.

**SHIPPERS GAIN ON HIGHER FREIGHT RATES**

Shipping firms outperformed the weak overall market as the Baltic Exchange's dry freight index .BADI rose 2.95 percent on Thursday, adding to strong recent gains.

The index gauges the strength of seaborne trade for dry cargoes such as coal, iron ore, cement and grains.

STX Pan Ocean (028670.KS: Quote, Profile, Research, Stock Buzz), South Korea's biggest dry bulk shipping company, was up 0.3 percent to 2,360 won, and Korea Line (005880.KS: Quote, Profile, Research, Stock Buzz) advanced 0.47 percent to 216,000 won.

0316 GMT

**STX SHIPBUILDING OUTPERFORMS AS WINS ORDER**