May 29, 2013 / 5:21 AM / 5 years ago

Korea Hot Stocks-Samsung SDI shares jump on nuclear reactor shutdown

SEOUL, May 29 (Reuters) - South Korea’s main KOSPI share index was up 0.95 percent at 2,005.12 points as of 0458 GMT. The index opened up 0.38 percent at 1,993.69.

Stocks on the move on Wednesday include:


Shares in Samsung SDI jumped on Wednesday after South Korea suspended two of its nuclear reactors and extended the shutdown of a third, sparking hopes of strong sales of the battery maker’s energy storage system products, analysts said.

“Potential energy supply problems point to strong sale of its energy storage system products,” said Hwang Joon-ho, an analyst at KDB Daewoo Securities.

Shares in Samsung SDI had jumped nearly 6 percent as of 0510 GMT, after hitting a near-2-month high earlier in the session.

0510 GMT

Reporting by Jungyoun Park; Editing by Anupama Dwivedi

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