Hankook Tire Company Limited
SEO:000240 ISIN:KR7000240002
Hankook Tire Co., Ltd. (SEO:000240) is a Korean manufacturer of tires. The Company produces and distributes tire products such as passenger car radial (PCR) tires, light- and heavy-duty truck radial tires, bus radial tires and racing car tires under the brand names of HANKOOK, VENTUS, XQ OPTIMO and BLACK BIRD. In addition, the Company provides tire tubes, batteries and other products used for passenger cars, trucks and buses under the brand names of HANKOOK and KINGSTAR. It also provides original equipment manufacturing (OEM) services to international clients.
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Asian markets opened flat this morning while Wall Street overnight closed with little change after the US central bank's minutes eased concerns over rate hike. Yesterday Australian stock market touched an 18-month high despite the Reserve Bank of Australia raised official rate by 25 basis points. Japan's Nikkei 225 Tuesday dropped 0.5 per cent on profit-taking selling. China's Shanghai Composite was nearly unchanged while Hong Kong market was closed for public holiday.
Asian stocks are expected to extend gains on Thursday as US and Britain markets climbed to multi-month highs overnight. Wall Street was pushed to a fresh 17-month high as investors cheered for the drop in February Producer Price Index, or wholesale inflation. Yesterday most major Asian markets were stronger after the U.S. Federal Reserve pledge to keep interest rates low for an extended period. The Bank of Japan also left its rate unchanged at 0.1 per cent. The Nikkei Index gained 1.2 per cent and South Korea's Kospi was up 2.1 per cent. Shanghai Composite lifted 1.9 per cent while Hong Kong's Hang Seng Index gained 1.7 per cent.
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