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Korea Hot Stocks-GS E&C tumbles after weak Q3 earnings
November 8, 2012 / 1:42 AM / 5 years ago

Korea Hot Stocks-GS E&C tumbles after weak Q3 earnings

SEOUL, Nov 8 (Reuters) - South Korea’s main KOSPI index was down 1.1 percent at 1,916.39 as of 0124 GMT. The index opened down 1.29 percent.

Stocks on the move on Thursday include:

**GS ENGINEERING & CONSTRUCTION CORP **

Shares in GS Engineering & Construction fell 8.1 percent to 56,400 won after the South Korean builder reported a 74 percent drop in third-quarter operating profit to 49.1 billion won ($45.23 million).

“Although [GS E&C‘s] total revenue is expected to increase in the fourth quarter, the company’s cost-sales ratio is unlikely to make a rapid improvement,” Emily Kim, a construction sector analyst at Hyundai Securities, wrote in a note. ($1 = 1085.6000 Korean won) (Reporting by Joyce Lee; Editing by Anand Basu)

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