N.Korea-exposed S.Korean steel, construction stocks soar ahead of inter-Korean summit

Hi Steel Co

13/08/2018 01:48

** Steel and construction shares with exposure to North
Korea surge as the two Koreas move closer to third inter-Korean
summit, which is likely to take place in late August or early
September in Pyongyang
    ** Moonbae Steel  008420.KS  jumps 15 pct while Daeho AL
 069460.KS  gains 14 pct
    * Shares of Hi Steel  071090.KS  and Hanil Hyundai Cement
 006390.KS  gain over 8 pct 
    ** Dongyang Steel Pipe  008970.KS  rise 7 pct, while Bookook
Steel  026940.KS  and Namkwang Engineering & Construction
 001260.KS  climb 5 pct each
    ** In preparation for the summit, South Korean officials
head for Panmunjeom early Monday for talks with North Korean
counterparts, where they are expected to tackle measures for
denuclearization and declare the end of Korean War
    ** The broader KOSPI market  .KS11  was trading down 0.6 pct
as of 1230 GMT

 ((hayoung.choi.thomsonreuters.com@reuters.net))