S.Korea's Doosan Bobcat hits 4-mth low as parent co offloads shares

Doosan Bobcat

30/11/2018 01:11

** Shares of Doosan Bobcat Inc  241560.KS  fall as much as
8.6 pct to their lowest level since July 30
    ** Doosan Infracore Co Ltd  042670.KS  says it sold shares
worth 149.1 billion won ($133.08 mln) in Doosan Bobcat to
improve financial soundness  urn:newsml:reuters.com:*:nL4N1Y501C
    ** There are possibilities of hangover concerns to flare up
on the Doosan Infracore's sell-off, which will inevitably hurt
investor sentiment, says Han Young-soo, an analyst at Samsung
Securities
    ** Doosan Bobcat is a subsidiary of Doosan Infracore, while
both companies are mainly engaged in manufacture and
distribution of construction machines
    ** Doosan Infracore's stock rises as much as 2.8 pct
    ** Broader market  .KS11  up pct as of 0053 GMT


($1 = 1,120.3400 won)

 ((joori.roh.thomsoneuters.com@reuters.net))