March 20, 2013 / 3:00 AM / 5 years ago

Korea Hot Stocks-Hyundai E&C outperforms on large-scale orders

SEOUL, March 20 (Reuters) - South Korea’s main KOSPI share index was down 0.4 percent at 1,972.53 points as of 0253 GMT. The index opened down 0.5 percent at 1,969.19.

Stocks on the move on Wednesday include:


Shares in Hyundai Engineering & Construction rose 2 percent near mid-session, outperforming local builders on announcements of large-scale orders.

Hyundai E&C said in a regulatory filing on Wednesday it won a $1.89 billion order to build facilities to transport and treat oil from offshore sites in the United Arab Emirates from the Abu Dhabi Marine Operating Company.

Hyundai E&C also said on Wednesday a consortium consisting of Hyundai E&C and Daewoo International won a $819 million order to build a power plant in Talimarjan, Uzbekistan, from the country’s state utility Uzbekenergo.

Shares in Daewoo International were up 0.8 percent. (Reporting by Joyce Lee; Editing by Sunil Nair)

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