[Featured Stock] Intensifying Global Competition in Electric Vehicles... SK Innovation Falls 7%
[Asia Economy Reporter Ji Yeon-jin] SK Innovation is experiencing a nearly 7% decline during the trading session as foreign investors continue to sell off their shares.
As of 10:20 AM, SK Innovation is trading at 283,500 KRW, down 6.74% compared to the previous trading day. In the KOSPI market this morning, SK Innovation ranked third among the most sold stocks by foreign investors, following Kia Motors and Samsung Electronics.
SK Innovation's stock price surged sharply from the beginning of the year amid expectations of growth in the electric vehicle market, reaching 317,000 KRW as of the closing price on the 4th.
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However, with the upcoming lawsuit results involving LG Energy Solution and the International Trade Commission (ITC), along with news that U.S. automakers such as GM and Ford are aggressively expanding investments to increase their electric vehicle market share, the stock price is believed to have been pulled down.
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