Short comment
Overall Shipbuilding sector in KOSPI plunged during today.
HHI(009540.KS) -5.33%
SHI(010140.KS) -4.50%
DSME(042660.KS) -2.36%
and HMD(010620.KS) -4.15%
Looks like plunging Oil became spur to the plunge, knitted with a lack of new contracts of offshore plant.
The largest company in the sector, HHI has got no additional contracts since 2014.
And the other companies also don't have many obtained orders.
Even if I think macro economic situation is a catalyst for the sector, I suggest NEUTRAL on it.
Looks like Oil enters into huge volatile stage, and a correlation between the sector and Oil price looks like much bigger than before.
Overall Shipbuilding sector in KOSPI plunged during today.
HHI(009540.KS) -5.33%
SHI(010140.KS) -4.50%
DSME(042660.KS) -2.36%
and HMD(010620.KS) -4.15%
Looks like plunging Oil became spur to the plunge, knitted with a lack of new contracts of offshore plant.
The largest company in the sector, HHI has got no additional contracts since 2014.
And the other companies also don't have many obtained orders.
Even if I think macro economic situation is a catalyst for the sector, I suggest NEUTRAL on it.
Looks like Oil enters into huge volatile stage, and a correlation between the sector and Oil price looks like much bigger than before.
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