[Featured Stock] ECS Nears Upper Limit... Remote Work-Related Stocks Surge Amid COVID-19 Pandemic

AlSupport, Ringnet, and Others Rise Over 15%

[Asia Economy Reporter Minwoo Lee] The World Health Organization (WHO) has designated the novel coronavirus infection (COVID-19) as a pandemic, leading to a strong performance in stocks related to remote work.

According to the Korea Exchange on the 12th, as of 1:50 PM, the stock price of ECS has risen 24.04% from the previous day to 4,055 KRW. ECS is a company engaged in video conferencing and network integration businesses.

The stock price of RSUPPORT, a provider of remote support and control solutions, is also on the rise. At the same time, it is trading at 3,965 KRW, up 16.96% from the previous day. Lingnet, which operates a video conferencing system-related business, is also recording 4,590 KRW, up 15.91% from the previous day.

This contrasts with the sharp declines in stock markets worldwide due to the global 'pandemic shock.' The Korea Exchange announced that at 1:04:37 PM, a 'sidecar'?a temporary suspension of program sell orders for five minutes in the securities market triggered by a drop in futures prices?was activated. This is the first time the sidecar has been triggered in about 8 years and 5 months since October 4, 2011, when concerns over Greece's debt default intensified. As of 2 PM, the KOSPI is down 3.36% (64.09 points) from the previous day, standing at 1,844.18. The KOSDAQ is also down 4.34% (25.83 points), recording 569.78.

This content was produced with the assistance of AI translation services.