Hanjin Shipping’s Doom Spurs Rally in Hyundai Merchant Stock

Updated on
  • Rival’s stock jumps 28% as Hanjin votes for court receivership
  • Regulator says Hyundai Merchant may buy Hanjin’s assets

Hanjin Shipping Files for Receivership

Hanjin Shipping Co., South Korea’s biggest container shipping line, decided to apply for court receivership after lenders halted all support. Shares of Hyundai Merchant Marine Co. surged after the financial regulator said the rival may consider buying parts of the company in distress.

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