Reuters: Hot Stocks: Korea Hot Stocks-Defense firms surge on N.Korea rocket plan

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Korea Hot Stocks-Defense firms surge on N.Korea rocket plan Dec 3rd 2012, 00:40 SEOUL | Sun Dec 2, 2012 7:40pm EST SEOUL Dec 3 (Reuters) - South Korea's main KOSPI share index was up 0.5 percent 1,942.65 points 0024 GMT. The secondary Kosdaq index was up 0.5 percent at 501.77 points. Shares in defense-related firms rallied after North Korea announced over the weekend that it would carry out its second rocket launch of this year. Shares in Victek and Speco jumped by the daily limit of 15 percent, while Firstec rose 11 percent and Huneed Technologies gained 7.4 percent as of 0027 GMT. The communist North Korea has notified its neighbours of the proposed flight path, an unnamed South Korean official told Yonhap news agency on Sunday, saying that it would take a similar path to a failed rocket launch in April this year. (Reporting By Hyunjoo Jin; Editing by Himani Sarkar)

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