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Korea Hot Stocks-Doosan Infracore, shipping firms, Korea Zinc
Reuters - Tuesday, July 28
SEOUL, July 28 - Stocks on the move on Tuesday include:
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As of 0206 GMT, the main KOSPI <.KS11> was down 0.09 percent at 1,522.70 points.
The index opened 0.17 percent lower at 1,521.49 points.
**DOOSAN INFRACORE GAINS ON BOBCAT HOPES**
Doosan Infracore <042670.KS> rose after U.S. home sales data released on Monday fueled hopes its U.S. subsidiary Bobcat, a construction equipment maker, may benefit from a turnaround in the U.S. housing market.
According to the U.S. Commerce Department report, sales of new single-family homes in the country rose 11 percent in June, the largest monthly rise since 2000. [ID:nN27525910]
"The United States is a major market for Bobcat. As its construction markets slowly recover, the company is expected to see an earnings turnaround," said Paul Hah, an analyst at Woori Investment & Securities.
Doosan Infracore advanced 5.19 percent to 16,200 won as of 0205 GMT.
0205 GMT
**SHIPPING FIRMS RALLY ON GAINS IN BALTIC DRY INDEX**
Shipping issues rose across the board boosted by solid gains in the Baltic Dry Index <.BADI>, which tracks the cost of shipping key commodities.
STX Pan Ocean <028670.KS> climbed 3.75 percent and Hanjin Shipping <000700.KS> gained 3.78 percent.
0038 GMT
**KOREA ZINC SINKS AFTER WEAK QUARTERLY RESULTS**
Korea Zinc <010130.KS> fell on Tuesday after the world's No.2 zinc refiner posted weak second quarter earnings late on Monday.
Korea Zinc said in a Korea Exchange filing its quarterly net profits dropped 12.59 percent from a year ago to 113.7 billion won .
Woori Investment & Securities in a report on Tuesday downgraded its rating on Korea Zinc to "hold" from "buy" and said its operating profits had come "significantly below our earlier estimates."
Korea Zinc's operating profits for the second quarter slipped 62.3 percent from a year ago to 66.6 billion won.
Shares in Korea Zinc were down 3.77 percent. (Reporting by Jungyoun Park; Editing by Jonathan Hopfner and Chris Lewis)
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