Ignoring 29 Buy Calls, Investors Sell Biggest Korean Refiner

  • Korea’s best fund manager sold off shares in refiners
  • Refining margins in Asia have fallen from January high
Photographer: SeongJoon Cho/Bloomberg

South Korean investors aren’t buying analysts’ bullish forecasts for earnings of the nation’s top refiners, bringing to an end the rally that brought their shares to a three-year high.

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