Hyundai E&C hits 9-month high ahead of inter-Korean summit

Hyundai Elevator

19/04/2018 01:34

** Shares of Hyundai Engineering & Construction  000720.KS 
up more than 9 pct, hitting the highest intraday level since
July
    ** If North Korea projects resume after South Korea's summit
with North Korea, it is likely that Hyundai E&C will be leading
the way as it is the only construction company that has such
experience in the past, said Lee Kyung-ja, an analyst at Korea
Investment & Securities
    ** Hyundai E&C had completed North Korea project worth of
0.7 trillion won ($656.48 million) during 1999-2006
    ** Political tensions over the Korean Peninsula largely
eased after U.S CIA Director Mike Pompeo visited Pyongyang
recently and South Korea said it is considering ways to change
armistice with North Korea into a more peaceful agreement
 urn:newsml:reuters.com:*:nL3N1RV2AX
    ** Hyundai Elevator Co  017800.KS , the biggest stakeholder
in Hyundai Asan, which was previously engaged in a number of
North Korea-related projects, also up 7.9 pct
    ** Broader market  .KS11  down 0.1 pct as of 0021 GMT

($1 = 1,066.3000 won)

 ((Reuters Messaging: dahee.kim@thomsonreuters.com))