[Featured Stock] Pan Ocean, BDI Strength Continues... Intraday Rise Over 3%
[Asia Economy Reporter Minji Lee] Pan Ocean is showing an upward trend. This is analyzed to reflect expectations that strong dry bulk (BDI) freight rates will lead to improved performance this year.
At 9:40 a.m. on the 18th, Pan Ocean recorded 6,190 KRW, up over 3% during trading. On the same day, Pan Ocean's price rose to as high as 6,300 KRW during trading.
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Minjin Bang, a researcher at Eugene Investment & Securities, explained, "Although the first-quarter performance is expected to fall short of estimates due to steep market conditions and oil price volatility despite strong freight rates, the BDI is expected to remain strong in the second quarter as global economic improvement increases cargo volume."
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