[Featured Stock] Hanjin Kal Rises Over 8% Intraday on Foreign Buying Pressure
[Asia Economy Reporter Minji Lee] Hanjin KAL is recording an intraday rise of over 8% due to buying momentum from foreign investors.
At 2:47 PM on the 12th in the KOSPI market, Hanjin KAL is trading at 42,800 KRW, up 8% from the previous session.
Top buying brokers include Kiwoom Securities, Mirae Asset Daewoo, and CS Securities. Currently, foreign investors are purchasing approximately 9.3 billion KRW worth of shares.
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Hanjin KAL has been experiencing sharp fluctuations due to a management rights dispute within the Hanjin Group. On the 31st of last month, former Korean Air Vice President Cho Hyun-ah, KCGI, and Bando Construction Group announced their cooperation to change the leadership under Chairman Cho Won-tae of Hanjin Group. Accordingly, at the upcoming March shareholders' meeting, a vote is expected over the reappointment of CEO Cho Won-tae or the appointment of a new professional CEO.
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