Korea Hot Stocks - Hyundai Development rises on earnings hopes

SEOUL, Nov 4 - Stocks on the move on Wednesday include:

As of 0248 GMT, the main KOSPI <.KS11> was up 0.62 percent at 1,559.57 points.

The index opened 0.39 percent higher at 1,556.02 points.

**HYUNDAI DEVELOPMENT GAINS ON Q4 EARNINGS HOPES**

Shares in builder Hyundai Development Co. <012630.KS> rose on earnings hopes for the fourth quarter after it posted net and operting losses for the third quarter on Tuesday.

Analysts said the company had cleared debt arising from the takeover of a construction project in Busan and was expected to see profits in the fourth quarter helped by two more domestic housing projects.

"There was a earnings shock yesterday, but in terms of sales margins, its business is fundamentally in good shape. Earnings are expected to be better off in the fourth quarter," said Song Heung-ik, an analyst at Daewoo Securities.

Hyundai Development shares advanced 5.14 percent to 38,900 won as of 0248 GMT.

0248 GMT