[Featured Stock] LG Electronics Hits 52-Week High on Earnings Improvement Expectations
[Asia Economy Reporter Minji Lee] LG Electronics set a new 52-week high amid expectations of improved earnings.
At 9:26 a.m. on the 21st in the KOSPI market, LG Electronics was traded at 90,400 KRW, up 6.48% from the previous session. On the same day, LG Electronics rose to 90,900 KRW during the session, breaking its 52-week high.
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Dongwon Kim, a researcher at KB Securities, said, “The automotive components business is expected to turn profitable from the second quarter of next year due to increased orders and improved product mix,” adding, “The spread of the non-face-to-face home economy caused by the novel coronavirus (COVID-19) is leading to increased online purchases of home appliances and TVs, which is expected to further boost earnings.”
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