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2014-10-31 Fri 13:04
Shares of South Korea's largest shipbuilder Hyundai Heavy Industries Co. sank to a fresh yearly low on Friday after reporting a record quarterly loss in the third quarter.
Hyundai Heavy were trading at 96,900 won (US$92) as of 10:43 a.m., sharply down 3.1 percent from the previous session's close, after falling to as much as 89,500 won at one point.
The shipyard said on Thursday that it logged a record quarterly operating loss of 1.93 trillion won during the July-September period, largely due to low-margin ships and increased costs in building new types of ships and power plants.