[Featured Stocks] Ultra-Close US Presidential Election... Biden Beneficiary Green Stocks Plummet

[Asia Economy Reporter Oh Ju-yeon] As the U.S. presidential election reaches a razor-thin margin, industries related to the two candidates are experiencing mixed fortunes. A representative example is eco-friendly stocks. As President Donald Trump showed an advantage in battleground states, eco-friendly stocks, which were identified as the main beneficiaries if candidate Joe Biden were elected, plummeted.

According to the Korea Exchange on the 4th, as of 2:19 PM, Hanwha Solutions traded at 41,800 KRW, down 10.68% from the previous trading day. Hanwha Solutions' stock price, which had risen to 52,300 KRW intraday on September 7, sharply dropped 32.88% to 35,150 KRW on the 25th. However, as Biden’s approval ratings gained strength after the Chuseok holiday, the stock rebounded to the 40,000 KRW range. Hanwha Solutions closed at 43,700 KRW on the 30th of last month and surged more than 6% on the first trading day of November, reaching 46,750 KRW.

CS Wind, a specialized manufacturer of wind power towers, also fell more than 10% that day. CS Wind traded at 96,700 KRW, down 11.51% from the previous trading day. CS Wind’s stock price, which was 42,000 KRW in early July, had more than tripled to the 140,000 KRW range intraday in early September. It traded in the 100,000 KRW range afterward but was pushed back to the 90,000 KRW range on this day.

LS and LS ELECTRIC, which have seen potential growth in offshore wind power highlighted, rose 3.67% and 1.01% respectively on the 2nd compared to the 30th of last month, but both fell more than 6% and 3% respectively on this day compared to the previous trading day.

Additionally, Sinsung ENG fell 10.03%, while Willings and Hyundai Energy Solutions plunged 6.25% and 11.65%, respectively.

Since candidate Biden has pledged to strengthen environmental regulations and focus on clean energy infrastructure, eco-friendly stocks both domestically and internationally have shown strength alongside Biden’s rising approval ratings. In Korea, related stocks that had risen thanks to the previous administration’s 'Green New Deal' policy gained further momentum ahead of the U.S. presidential election.

However, as the possibility of Trump’s election has significantly increased, disappointment-driven sell-offs are emerging.

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