SEJONG, South Korea/SEOUL (Reuters) - South Korea hopes its infrastructure companies will benefit from the country joining the China-backed Asian Infrastructure Investment Bank (AIIB), the finance ministry said on Friday. Shares in some iron and steel products makers rose sharply in early trading, partly on hopes for new orders when the AIIB is operational and funding infrastructure projects, which is likely next year. Histeel Co rose 14.8 percent and Hanil Iron & Steel was up 10.3 percent at 0123 GMT. "(The government) expects our companies to win many orders in areas such as communications, energy and transportation, where they have strength," Song In-chang, head of the finance ministry's international finance bureau, told reporters.
via Business News http://ift.tt/1ygms74
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