North-linked firms soar on Seoul market after summit

North-linked firms soar on Seoul market after summitShares in South Korean builders, railway component makers and other firms with links to the North rocketed on Monday as Friday’s inter-Korea summit fuelled optimism for new cross-border projects. The historic meeting saw the North’s leader Kim Jong Un and South Korean President Moon Jae-in vowing to “encourage more active cooperation, exchanges” and promote “co-prosperity”. Shares of Hyundai Engineering & Construction — which built buildings at the now-shuttered Kaesong jointly-run industrial complex in the North — surged 26 percent.



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