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Korea Hot Stocks - Samsung Techwin, Hite Holdings rally

Published: 18 Jun 2009 18:40:57 PST

SEOUL, June 19 - Stocks on the move on Friday include:

As of 0210 GMT, the main KOSPI was up 0.06 percent at 1,376.61 points.

The index opened 0.78 percent higher at 1,386.52 points.

**SAMSUNG TECHWIN JUMPS ON POSITIVE BROKERAGE NOTE**

Samsung Techwin, a maker of closed-circuit televisions (CCTV) and aircraft engines, advanced 8.35 percent helped by a positive brokerage note.

Dongbu Securities said "many positive outcomes, including new orders from overseas, are expected for the remainder of this year," in a report on Friday.

Dongbu cited potential orders from Samsung Heavy Industries for ship parts and for self-propelled artillery from Australia as possible positives.

It kept its target price on Samsung Techwin at 91,000 won and maintained a "buy" rating on the company.

2010 GMT

**HITE HOLDINGS RALLIES ON JINRO STAKE SALE**

Hite Holdings rallied on Friday after the company said in a filing to the Korea Exchange late on Thursday it was selling a stake worth 289.4 billion won ($229.4 million) in Jinro Ltd.

Hite Holdings is a majority stake holder in Jinro, controlling 52.1 percent of the spirits maker after the stake sale.

"Stake sale will strengthen Hite Holdings' financial condition and this will make re-listing of Jinro easier," said Lee Yo-yong, an analyst at KB Investment&Securities.

Jinro is looking to make a public offering on the domestic bourse by end-September at the earliest, according to media reports.

Lee said improvements in Hite Holdings' financial health will help Jinro get better pricing for its listing.

0044 GMT


Source: Reuters

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