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Korea Hot Stocks-Doosan Heavy, carmakers
Reuters - 2 hours 49 minutes ago
SEOUL, Dec 2 - Stocks on the move on Tuesday include:
As of 0209 GMT, the main KOSPI <.KS11> was down 2.02 percent at 1037.25 points.
The index opened 4.81 percent lower at 1,007.71 points.
**DOOSAN HEAVY GAINS ON SAUDI ORDER**
Shares in Doosan Heavy Industries & Construction Co <034020.KS> rose 3.82 percent to 57,100 won after a consortium including Doosan received on Monday a $293.1 million order to expand a desalination plant in Saudi Arabia, according to state news agency SPA. [ID:nL1317580]
Doosan said in a filing with the Korea Exchange on Tuesday that the project would be completed by the end of November, 2011.
0210 GMT
**CARMAKERS FALL AFTER MONTHLY AUTO SALES DATA**
Shares in South Korean automakers sank after they reported on Monday a 8.6 percent drop in combined sales in November, a sign the global economic slowdown was darkening the industry's outlook. [ID:nSEO211046]
Shares in the country's No.1 carmaker Hyundai Motor Co <005380.KS> fell 4.27 percent to 39,250 won and its affiliate Kia Motors Corp <000270.KS> lost 5.61 percent to 6,390 won. Ssangyong Motor Co <003620.KS> also slid 5.88 percent to 960 won.
"There are a lot of worries that the November sales data may mark the beginning of an industry downturn, " Stephen Ahn, an analyst at LIG Investment and Securities, said in a research note on Tuesday.
0106 GMT
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