Samsung Heavy's preferred shares plummet as investors sell

Preferred shares of Samsung Heavy Industries Co. tumbled by 20.43 percent to close at 592,000 won on the Seoul bourse on Friday as retail investors sought to cash in part of gains.

The drop snapped a winning streak of 13 consecutive sessions.

The company's common shares also dipped 1.38 percent to 6,440 won.

Trading of Samsung Heavy preferred shares resumed Friday after being suspended again on Thursday after a 14-fold rise over 13 sessions.

On Wednesday, Samsung Heavy's preferred stocks closed at 744,000 won, which was drastically higher than the 54,500 won on June 1.

Over the same period, the company's common shares also surged 30 percent to 6,470 won from 4,980 won.