April 25, 2024
Industrials
HHI shares hit 52-week high on March 3
[THE INVESTOR] Hyundai Heavy Industries stocks traded at a 52-week high on Mar. 3 on simmering expectations that the shipbuilding sector is on a recovery track.
HHI was changing hands at 168,000 won (US$146) on the Seoul bourse as of 10:00 a. m., up 1.51 percent from the previous session‘s close. For the past month, the combined market capitalization of HHI and its affiliate Hyundai Mipo Dockyard increased some 25 percent, the largest gain among the country’s top 10 conglomerates.
Analysts said a recovery in the shipbuilding segment is fueling HHI stocks as a rise in demand for liquefied natural gas from emerging nations is stoking demand for LNG carriers and floating storage and regasification units.
So far this year, HHI has secured a deal to build a total of four ships, including two very large crude carriers and an FSRU.
(theinvestor@heraldcorp.com)
HHI was changing hands at 168,000 won (US$146) on the Seoul bourse as of 10:00 a. m., up 1.51 percent from the previous session‘s close. For the past month, the combined market capitalization of HHI and its affiliate Hyundai Mipo Dockyard increased some 25 percent, the largest gain among the country’s top 10 conglomerates.
Analysts said a recovery in the shipbuilding segment is fueling HHI stocks as a rise in demand for liquefied natural gas from emerging nations is stoking demand for LNG carriers and floating storage and regasification units.
So far this year, HHI has secured a deal to build a total of four ships, including two very large crude carriers and an FSRU.
(theinvestor@heraldcorp.com)
