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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Korea Hot Stocks- Hana Financial, Daewoo Shipbuilding Reuters - 2 hours 11 minutes ago SEOUL, Nov 14 - Stocks on the move on Friday include: As of 0527 GMT, the main KOSPI <.KS11> was down 0.08 percent at 1,087.60 points. The index opened 3.54 percent higher at 1,126.94 points. **HANA FINANCIAL TUMBLES ON FOREIGN SELLING** Shares in Hana Financial Group <086790.KS> fell for a fourth consecutive session on Friday on persistent worries about its financial health, and after a foreign brokerage terminated coverage of the firm. JP Morgan said on Friday it had stopped covering Hana Financial from early this week. "JP Morgan is is said to have cited Hana Financial Group's failure to disclose necessary information critical to analysts for its termination of the company coverage," said Park Jung-hyun, an analyst at Hanwha Securities. "Normally in cases like this foreign investors would put sell orders on shares that are no longer covered by a reputable brokerage," Park added. Analysts also said Hana Financial was expected to see large foreign currency option-related losses due to a weakening won currency. Citigroup was the top seller of Hana Financial Group, and Credit Suisse the fifth largest. Separtely JF Asset Management, part of JP Morgan Asset Management, said on Wednesday it had cut its holdings in Hana Financial to 3.63 percent from the previous 6.46 percent. Hana Financial tumbled 11.57 percent as of 0526 GMT. 0526 GMT **DAEWOO SHIPBUILDING JUMPS AS SALE MOU SIGNED** Shares in Daewoo Shipbuilding & Marine Engineering <042660.KS> soared 14.65 percent to 15,650 won after preferred bidder Hanwha Group signed a memorandum of understanding to acquire a controlling stake in Daewoo. Daewoo's top shareholder Korea Development Bank also said in a statement that a consortium led by Hanwha was expected to soon launch due diligence on the shipbuilder for three to four weeks. 0026 GMT (Reporting by Park Jung-youn, Park Ju-min; Editing by Jonathan Hopfner) Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business China bond funds post strong October gains-LipperReuters - 1 hour 15 minutes ago Rio postpones briefings to study market turmoilReuters - 1 hour 17 minutes ago Oaktree finding value in loans used for buyoutsReuters - 1 hour 29 minutes ago Philippine stock index climbs 3 percentAP - 1 hour 31 minutes ago S.Korea won at 2-wk closing low, off 5 pct on weekReuters - 1 hour 32 minutes ago Most Popular – Business Viewed Ancient 4,300-year-old pyramid discovered in Egypt Britney Spears's son hospitalized: statement Earth would be heading to a freeze without CO2 emissions China mulls crackdown on lip-synching Your favorite music = happy heart: study View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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Korea Hot Stocks- Hana Financial, Daewoo Shipbuilding
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