South Korea’s Kospi index rose 12.46, or 0.6 percent, to 2,009.05 at the 3 p.m. close in Seoul, the highest level since Nov. 7, 2007.
The following were among the most-active stocks in South Korean markets.
Shipbuilders: Hyundai Heavy Industries Co. (009540 KS), the world’s biggest shipbuilder, jumped 8.9 percent to 417,000 won, the highest level since Jan. 10, 2008, after Hapag-Lloyd AG increased a container-ship order by about $754 million. The shipping line expanded the capacity of six on-order ships to 13,200 boxes and ordered four additional vessels of the same size, it said in a statement on its website yesterday.
STX Offshore & Shipbuilding Co. (067250 KS) surged 8.3 percent to 23,550 won, after the company and an affiliate won a $912 million ship order from another STX Group company.
GS Global Corp. (001250 KS), a South Korean trading company, tumbled 12 percent to 18,450 won, the most since July 2, 2008, after saying it plans to sell 11.27 million new shares.
Handsome Co. (020000 KS), a South Korean apparel maker, climbed 0.9 percent to 17,050 won, after rising as much as 4.1 percent earlier. LIG Investment & Securities Co. raised its share-price estimate by 10 percent to 22,000 won, saying fourth-quarter earnings will exceed the brokerage’s initial forecast.
Woori Finance Holdings Co. (053000 KS) dropped 4.6 percent to 14,450 won, the most since May 25. The stock fell after an employees’ group said it may not submit a detailed offer for the state-owned lender unless the government eases its criteria on bids. The Financial Services Commission, the government regulator that’s leading the privatization, said it will review the group’s demand.