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Korea Hot Stocks-C& Group, Hanjin Heavy, mutual savings
Reuters - 2 hours 55 minutes ago
SEOUL, Dec 3 - Stocks on the move on Wednesday include:
As of 0432 GMT, the main KOSPI <.KS11> was down 0.9 percent at 1,013.95 points.
The index opened 1.49 percent higher at 1,038.41 points.
**C& GROUP SHARES ON REPORT OF UNIT RESTRUCTURING**
Shares in companies under the C& Group, including shipbuilder C&Heavy Industries <008400.KS>, jump after local media reported that creditors of C&Heavy decided to start a creditor-led debt rescheduling programme.
Online news outlet E-daily also said creditors of mid-sized builder C&Woobang Construction <013200.KS> were expected to decide on its debt rescheduling this afternoon.
Shares in C&Heavy jumped 14.65 percent to 900 won and C&Woobang climbed 13.92 percent to 450 won. Also, C& Group's shipping unit C&Merchant Marine Co Ltd <000790.KS> surged by the intraday limit of 15 percent to 230 won.
0428 GMT
**HANJIN HEAVY RISES AFTER SHIPYARD NEWS**
Shares in shipbuilder Hanjin Heavy Industries <003480.KS> rose 8.74 percent to 11,200 won after the Philippine's trade secretary said late on Tuesday that Hanjin was proceeding with its plan to build a $2 billion shipyard project in the southern Philippines. [ID:nHKG259183]
0428 GMT
**MUTUAL SAVINGS BANKS UP AHEAD OF GOVT ANNOUNCEMENTS**
Shares in mutual savings banks rose on Wednesday ahead of government announcements later in the day, which are expected to clear up project financing-related bad loans for mutual savings banks.
"There are expectations over what the government will unveil, which are obviously lifting shares in mutual savings banks today. But we do not know the details nor how helpful they will be yet," said Choi Jong-won, an analyst at Tong Yang Securities.
Shares in Solomon Mutual Savings Bank <007800.KS> jumped 10.94 percent and Jinheung Mutual Savings Bank <007200.KS> rose 4.85 percent. HK Mutual Savings Bank <007640.KQ> was flat at 7,390 won.
0234 GMT
(Reporting by Park Jung-youn and Park Ju-min; Editing by Jacqueline Wong)
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