Trump Call From Korea’s Yoon Sparks Jump in Shipbuilding Stocks
- President Yoon discussed ties with US in congratulatory call
- Hanwha Ocean climbs as much as 15%, HD Hyundai Heavy up 16%
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South Korean shipbuilding stocks advanced Thursday, defying declines in the broader market, after Donald Trump expressed hopes for close cooperation with the Asian nation.
Shares of Hanwha Ocean Co. climbed as much as 15%, the most since April 18, after a congratulatory call to Trump from South Korean President Yoon Suk Yeol. Peer HD Hyundai Heavy Industries Co. jumped as much as 16% and Samsung Heavy Industries Co. rose 8.4%. All three were among the top gainers on the MSCI Asia Pacific Index, which slumped for a second day.