S.Korean shares with N.Korea exposure surge after Trump comments on second summit

Good People Co

07/01/2019 01:13

** South Korean shares with exposure to North Korea gain
after U.S. President Donald Trump said https://cnn.it/2Qr2BkP
the United States is "negotiating a location" for a second
summit with North Korean leader Kim Jong Un  
    ** Trump and Kim had met in Singapore in June last year, but
there has been scant signs of progress on nuclear negotiations 
    ** Trump said the United States has a "very good dialogue"
going with North Korea, despite signs that talks between the two
countries appear to have reached a stalemate - report
    ** Shares in jewellery maker J.Estina  026040.KQ  surge 16
as much as pct, while Good People  033340.KQ  and Shinwon
 009270.KS , which used to operate textile factories in the
North Korean city of Kaesong, jump up to 7.2  pct and 5 pct,
respectively
    ** A few steel and construction shares with exposure to
North Korea gain as well, with Hi Steel  071090.KS  adding 5 pct
and Dongyang Steel Pipe  008970.KS  up as much as 4.2 pct 
    ** Trump may announce the summit schedule this month,
considering his falling popularity amid partial government
shutdown, says Seo Sang-young, analyst, Kiwoom Securities
    ** The broader KOSPI market  .KS11  was trading up 1.6 pct,
as of 0108 GMT

 ((hayoung.choi.thomsonreuters.com@reuters.net))