13 September, 2005

South Korea: Hite Brewery shares rise to 118,500 won

The sensitive to consumer demand shares, such as South Korea's biggest beer maker Hite Brewery Co., gained on expectations for a recovery in private spending in the second half of the year, Reuters reported on September 13.

Shares in Hite, which in June bought liquor maker Jinro Ltd. through a consortium, rose 2.6 % to 118,500 won, after earlier touching an all-time high of 120,000 won.

The recent run of positive economic indicators has lifted optimism about the domestic economy, including data last week showing the country's service sector output grew at its fast pace in 2-½ years in July from a year earlier.

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