[Featured Stock] Foreigners' Focused Buying... Daehan Electric Wire Soars 25%
[Asia Economy Reporter Ji Yeon-jin] Daehan Electric Wire is soaring more than 20% on the 31st, driven by net purchases from foreign investors.
![[Featured Stock] Foreigners' Focused Buying... Daehan Electric Wire Soars 25%](http://www.asiae.co.kr/news/img_view.htm?img=2022031009043472955_1646870675.jpg)
As of 1:25 PM on the day, Daehan Electric Wire is trading at 1,785 won, up 25.26% (355 won) compared to the previous day. Foreign investors are leading the stock price by purchasing more than 5 million shares.
The market interpreted that Daehan Electric Wire's corporate value rose due to news of establishing a joint venture for ultra-high voltage cable production in Saudi Arabia.
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On the 10th, Daehan Electric Wire announced that it signed a memorandum of understanding (MOU) for investment to establish a joint venture for ultra-high voltage cable production with Mohammed Al-Ojaimi Group, a Saudi Arabian transmission and distribution specialized EPC (Engineering, Procurement, and Construction).
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