Reuters: Hot Stocks: KOREA HOT STOCKS- STX units jump on rescue hopes

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

KOREA HOT STOCKS- STX units jump on rescue hopes Apr 24th 2013, 02:58 SEOUL, April 24 | Tue Apr 23, 2013 10:58pm EDT SEOUL, April 24 (Reuters) - South Korea's main KOSPI share index was up 0.9 percent at 1,934.96 points as of 0241 GMT. The index opened up 0.65 percent. Stocks on the move on Wednesday include: **STX UNITS JUMP ON RESCUE HOPES** Shares in five affiliates of STX Offshore & Shipbuilding Co Ltd jumped more than 10 percent on media reports that a Korea Development Bank (KDB)-led restructuring programme will kick off this week, raising hopes for financial support to the troubled group. Local newswire EDaily reported that a cash injection of 600 billion won ($535.26 million) into STX Offshore will be decided on this week, sending shares up by 12.8 percent. STX Offshore had earlier sought aid from creditor banks to resolve its debt problems after various asset sales by its parent company failed to resolve its debt problems. Shares in the parent STX Corp were up 14.9 percent. Affiliates STX Engine Co Ltd, STX Pan Ocean and STX Heavy Industries also rose by 10 to 15 percent. **HANATOUR FALLS ON BROKER DOWNGRADE** Shares in South Korea's biggest tour agency, Hanatour Service Inc, sank 5.9 percent after a local brokerage downgraded its investment rating from "buy" to "hold." Analysts at Hana Daetoo Securities cited slower bookings and rising cancellations over concerns about the spread of bird flu in China as the main reason for the rating cut. ($1 = 1120.9500 Korean won) (Reporting by Somang Yang; Editing by Anupama Dwivedi) Link this Share this Digg this Email Reprints

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