South Korean construction and engineering stocks rise on anticipated investment plans

GS Engineering & Construction

Yesterday 01:52

** Shares of South Korean construction and engineering companies surge ahead of a highly anticipated investment announcement from the presidential office and the nation's top chipmakers
** The construction sector .KS44 up 3.8%, as of 0032 GMT, versus a 3.1% fall in the benchmark KOSPI .KS11 
** Shares of Kumho Engineering & Construction 002990.KS surge 29.9%, while Kye-Ryong Construction Industrial 013580.KS rises 15%, DL E&C 375500.KS jumps 5% and GS Engineering & Construction 006360.KS gains 4%
** Samsung Group will pledge on Monday 1,000 trillion won  ($649.74 billion) in South Korea over the next decade, according to a media report
** Major cement producers Asia Cement 183190.KS and Hanil Cement 300720.KS jump 15% and 7%, respectively, on expectations of unprecedented domestic demand for factory foundations and massive regional infrastructure development
** Chipmakers Samsung Electronics 005930.KS and SK Hynix 000660.KS down 4.27% and 3.52%, respectively

($1 = 1,539.0700 won)

 (Reporting by Jihoon Lee)
 ((jihoon.lee@thomsonreuters.com))