Reuters: Hot Stocks: Korea Hot Stocks-OCI dives after Suntech orders cancelled

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Korea Hot Stocks-OCI dives after Suntech orders cancelled Apr 29th 2013, 00:48 April 29 | Sun Apr 28, 2013 8:48pm EDT April 29 (Reuters) - South Korea's main KOSPI share index was down 0.2 percent at 1941.49 as of 0027 GMT. Shares in the South Korean company tumbled as much as 9.5 percent to nearly six-year low after it said on Friday three polysilicon orders worth of 1.46 trillion Korean won ($1.31 billion) from units of China's solar panel maker Suntech Power Holdings Co Ltd were cancelled because of the latter's financial troubles. A 1.03 trillion won order with Wuxi Suntech Power, the biggest unit of Suntech, was called off because the unit went bankrupt, OCI said in a regulatory filing. The remaining 436 billion won deal was dropped by Suntech Power International because its European operation declared moratorium on debt repayments. ($1 = 1111.9500 Korean won) (Reporting by Hyunjoo Jin in Seoul; Editing by Anand Basu)

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