S.Korea's Hyosung Advanced Materials soars on carbon fibre investment plan

HS Hyosung Advanced Materials

21/08/2019 02:24

** Shares of Hyosung Advanced Materials Corp  298050.KS 
rise as much as 19.7% on the industrial material producer's 680
billion won ($562.42 million) investment plan to expand carbon
fibre production capacity amid a trade conflict with Japan 
    ** South Korean President Moon Jae-in pledged to nurture the
local carbon fibre industry, as part of efforts to reduce
dependence on Japan imports for high-tech materials  urn:newsml:reuters.com:*:nL4N25F42O
    ** Hyosung to increase its carbon fibre production from
current 2,000 tonnes to 24,000 by 2028, aiming to be world's top
3 maker: Presidential office  urn:newsml:reuters.com:*:nS6N25401S
    ** Stock hits highest since Sept. 2018
    ** Co clocked carbon fibre sales worth 9.5 billion won in Q2
this year, marking the biggest quarterly earning buoyed by order
increase since late last year, according to a report from Hana
Financial Group
    ** The broader KOSPI market  .KS11  down 0.12% as of 0047
GMT

($1 = 1,209.0600 won)

 ((Yuna.Park@thomsonreuters.com; +822 3704 5565; Reuters
Messaging: yuna.park.thomsonreuters.com@reuters.net))