Daewoo Ship, STX Lead Gains on Expectations of Orders
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STX Offshore & Shipbuilding Co., the world’s fourth-largest shipyard, led advances among South Korean shipbuilders in Seoul trading on expectations that growing global trade will prompt more orders.
STX Offshore gained 8.1 percent to 28,550 won, the highest price since August 2008, at the 3 p.m. close of trade in Seoul. Daewoo Shipbuilding & Marine Engineering Co., the world’s second-largest shipyard, climbed 3.2 percent to 30,600 won after winning a $510 million contract.