S Korea brokerages bullish on nation's shipbuilders
New orders for container ships replace older deals
[SEOUL] South Korean shipbuilders, this year's worst-performing industry group, are attracting "buy" recommendations from three of the nation's biggest brokerages after valuations sank to records.
Hyundai Heavy Industries Co, Samsung Heavy Industries Co and three other listed shipbuilders lost an average 40 per cent this year till Monday, compared with a 0.1 per cent gain in the Kospi 200 Index.
The shares trade at 0.7 times net assets, versus a multiple of 1.1 for the Kospi 200 and the Bloomberg World Shipbuilding Index.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Honda to spend US$11 billion on EV strategy in Canada
India’s IndiGo gets into long haul game with Airbus A350 deal
Hertz reports US$392 million loss as it unwinds Tesla fleet burden
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
China's largest auto show displays all-electric future, local brands dominate