[Featured Stocks] South-North Economic Cooperation Stocks Rise, Nuclear Power Stocks Fall... Mixed Emotions Amid Ruling Party's Election Victory
[Asia Economy Reporter Eunmo Koo] With the ruling party's landslide victory in the 21st general election, related stocks are experiencing mixed fortunes. While stocks related to inter-Korean economic cooperation are on the rise, nuclear power-related stocks are struggling to avoid declines.
First, stocks related to the expectation that the current government's policy to improve inter-Korean relations will gain momentum following the ruling party's election victory are rising. As of 10:04 AM on the 16th, Ananti was trading at 8,690 KRW, up 9.45% (750 KRW) compared to the previous trading day. At the same time, Busan Industrial (2.88%), Ilsin Stone (3.56%), Pureun Technology (2.37%), and Shinwon (3.91%) were also rising.
Shinrajen is also rising. Shinrajen is under prosecution investigation for allegations of insider trading by former executives, with suspicions that some ruling party officials are involved. As of 10:05 AM, Shinrajen was trading at 14,100 KRW, up 9.73% (1,250 KRW) from the previous day. On the same day, the Seoul Southern District Court is conducting a warrant hearing for former Shinrajen executives Mr. Kwak and Mr. Lee on charges of violating the Capital Markets Act, embezzlement, and breach of trust.
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On the other hand, Doosan Heavy Industries & Construction and Korea Electric Power Corporation (KEPCO) are showing weakness amid expectations that the nuclear phase-out policy will gain further strength. It is anticipated that the ruling party's unwavering implementation of the nuclear phase-out policy will negatively impact Doosan Heavy Industries & Construction, whose main business includes nuclear power plant construction. As of 10:05 AM, Doosan Heavy Industries & Construction was trading at 3,720 KRW, down 8.82% (360 KRW) from the previous trading day. At the same time, KEPCO also fell by 3.30%.
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