Korea Hot Stocks-Samsung SDI gains on Tesla earnings surprise

Wed Aug 7, 2013 9:32pm EDT
 
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SEOUL Aug 8 (Reuters) - South Korea's main KOSPI share index was up 0.1 percent at 1,880.66 points as of 0115 GMT. The index opened up 0.3 percent at 1,884.58.

Stocks on the move on Thursday include:

**SAMSUNG SDI BENEFITS FROM TESLA EARNINGS RISE**

Shares in battery maker Samsung SDI advanced as much as 4.3 percent on Thursday after U.S. electric car producer Tesla Motors Inc reported a better-than-expected profit on Wednesday, raising expectations for the growth of the fledging market.

Tesla Motors' revenues in the quarter were $405 million while net income stood at $26 million, which was much higher than expected.

"Samsung SDI is not currently a supplier to Tesla, but there is a possibility that it may be picked as a Tesla vendor, as the latter's car sales are seen growing," said Park Sang-hyun, an analyst at KTB Investemnt & Securities.

Samsung SDI shares were up 2.2 percent at 165,500 Korean won ($150) as of 0119 GMT. ($1 = 1118.6500 Korean won) (Reporting by Hyunjoo Jin; additional reporting by Jungmin Jang; Editing by Sunil Nair)