Hyundai shipbuilding stocks plunge on grim earnings forecast
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Seoul
SHARES in Hyundai Heavy Industries plunged by nearly a third on Wednesday after the world's largest shipbuilder by sales announced a plan to issue new stocks in a bid to shore up its ailing finances.
The South Korean firm has struggled amid an industry-wide slump in recent years, as global demand slowed and competition from China intensified while overcapacity slashed prices.
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