(Bloomberg) -- South Korean stocks fell for a second
day, extending the Kospi index's retreat from a record. Doosan
Heavy Industries & Construction Co. tumbled by the most in more
than three years after Goldman, Sachs & Co. said investors should
``sell'' because of ``rich'' valuations.
``The Goldman Sachs report was the trigger today for Doosan
Heavy,'' said Cho Joon Hyuk, who helps manage $750 million at
Nonghyup CA Asset Management in Seoul. ``There's no problem with
the company's earnings but valuations look a bit high now.''
Read more at Bloomberg Stocks News
day, extending the Kospi index's retreat from a record. Doosan
Heavy Industries & Construction Co. tumbled by the most in more
than three years after Goldman, Sachs & Co. said investors should
``sell'' because of ``rich'' valuations.
``The Goldman Sachs report was the trigger today for Doosan
Heavy,'' said Cho Joon Hyuk, who helps manage $750 million at
Nonghyup CA Asset Management in Seoul. ``There's no problem with
the company's earnings but valuations look a bit high now.''
Read more at Bloomberg Stocks News
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