S.Korea construction stocks slump on property curbs

Hyundai Engineering & Construction Co

13/08/2019 03:27

** South Korea's construction stocks weaken after the
government introduces a regulation to cool the housing market
    ** Ministry of Land, Infrastructure and Transport says in a
statement it will put price upper limit on newly built
apartments in some overheated areas
    ** The measure will take effect from as early as Oct -
ministry 
    ** Shares of GS Engineering & Construction  006360.KS  and
Daelim Industrial  000210.KS  fall more than 5% each, while
Hyundai Engineering & Construction  000720.KS  shrinks more than
3% 
    ** The construction sub-index  .KS44  drops more than 3% 
    ** The broader KOSPI market  .KS11  was trading down 0.8%

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