SEOUL, March 24 (Reuters) - Stocks on the move on Monday
include:
As of 0215 GMT, the main KOSPI <.KS11> was up 0.37 percent
at 1,651.76 points, led by construction and financial shares
such as Kookmin Bank <060000.KS>, as more stable commodities
prices and easing U.S. mortgage market concerns soothed
investors' fears about a global credit crunch.
The index opened 0.49 percent higher at 1,653.82 points.
**LG DACOM SURGES ON EXPECTATIONS OF STRONG GROWTH**
LG Dacom Corp <015940.KS>, a South Korean fixed-line and
broadband service provider, jumped 4.44 percent to 17,650 won,
on expectations that strong growth in the firm's Internet phone
business will continue.
LG Dacom, whose shares had underperformed other
telecommunications companies over the past months, has shown
good numbers in recruiting subscribers for its VoIP (Voice over
Internet Protocol) phone service, which was launched last year.
"A new policy starting from June, which allows phone users
to switch from landline phones to Internet phone without
changing their phone numbers, is expected to raise expectations
for LG Dacom," said Yang Jong-in, an analyst at Korea Investment
& Securities.
0213 GMT
**REFINERS UP ON HOPES WILL RECOVER**
Shares in oil refiners such as SK Energy <096770.KS> gained
on growing hopes that oil prices could remain steady in 2008,
which should help refiners improve their refining margins.
SK Energy, South Korea's top refiner, climbed 2.42 percent
to 106,000 won, and GS Holdings <078930.KS> rose 2.02 percent to
40,350 won.
"The oil price deline of the last few sessions is expected
to lessen pressure on crude import costs, and will likely
enhance simple refining margins in particular," said Shin
Eun-joo, an analyst at Korea Investment & Securities.
0055 GMT
**DAEWOO SHIPBUILDING RISES ON SALE TALK**
Shares in Daewoo Shipbuilding and Marine Engineering Co
<042660.KS> rose 3.53 percent to 33,750 won after a local
newspaper reported the shipbuilder could be sold this year.
Maeil Business Newspaper reported on Monday Korea
Development Bank (KDB), Daewoo's top shareholder, is likely to
speed up the sale of Hyundai Engineering & Construction Co <000720.KS> and Daewoo Shipbuilding ahead of the KDB's
transformation into a holding company.
(Reporting by Rhee So-eui and Park Ju-min, editing by
Marie-France Han and Jacqueline Wong)
(([email protected]; +82 2 3704 5650; Reuters
Messaging: [email protected]))
Keywords: MARKETS KOREA HOT/