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Korea Hot Stocks-Hanwha Chem, LG Display, defence issues gain
SEOUL, July 3 - Stocks on the move on Friday include:
As of 0440 GMT, the main KOSPI was down 0.03 percent at 1,411.02 points.
The index opened 1.53 percent lower at 1,389.93 points.
**HANWHA CHEMICAL RISES ON DOW CHEMICAL NEWS**
Hanwha Chemical <009830.KS> rose on the news late on Wednesday that top U.S. chemicals maker Dow Chemical Co <DOW.N> will shut down several ethylene operations in Louisiana to cut costs. [ID:nN01496103]
Analysts said Dow Chemical's output cut was expected to boost global polyvinyl chloride prices and help Hanwha's PVC business. Ethylene is a main feedstock of PVC, widely used for industrial and commercial purposes.
"It is good news but won't last long because when the price goes up, Chinese rivals who have been keeping their production volumes low will want to produce more," said analyst Anthony Kim at Woori Investment & Securities.
Shares in Hanwha Chemical advanced 4.09 percent to 11,450 won as of 0440 GMT.
0440 GMT
**LG DISPLAY CLIMBS ON EARNINGS OUTLOOK**
Shares in LG Display <034220.KS> rose 2.93 percent to 33,400 won amid expectations that the flat screen maker likely swung back to a profit in the second quarter thanks to healthy TV demand and a panel price recovery.
The world's No. 2 maker of liquid crystal displays is set to report the April-June earnings in mid-July.
"The rising trend in large LCD panel prices will likely continue in July as seasonality lifts demand and supplies of core parts such as glass remain tight," Goodmorning Shinhan Securities analyst John Soh said in a research note on Friday.
0139 GMT
**DEFENCE ISSUES RALLY ON N.KOREA NEWS**
Shares in defence issues including Huneed Technologies <005870.KS> and Victek <065450.KQ> rallied after news of North Korea's firing of short-range missiles.
Huneed, a manufacturer of wireless communications equipment for military purposes, was up 6.59 percent and Victek, a maker of military equipment parts, jumped 7.47 percent.
0039 GMT (Reporting by Jungyoun Park, Rhee So-eui and Shin Jieun; Editing by Ken Wills and Jacqueline Wong)
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