Shipbuilders sliding on weak earnings in Seoul
Seoul - Yonhap
South Korean shipbuilders traded near yearly lows on Friday as their worse-than-expected first-quarter earnings and dim outlook disappointed investors, analysts said. Shares of Hyundai Heavy Industries Co., the country's top shipbuilder, were quoted at 189,000 won (US$183) on the Seoul bourse as of 10:20 a.m., down 2.33 percent from the previous session's close. Samsung Heavy Industries Co. were down 1.06 percent at 27,900 won and Daewoo Shipbuilding & Marine Engineering Co. also sank 1.34 percent to 29,500 won.
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