[Hot Stock] Sinsong Holdings Hits Upper Limit Amid Soaring Grain Prices

[Asia Economy Reporter Ji Yeon-jin] Shinsong Holdings surged to the daily limit on the 15th as global grain prices continued to soar due to the prolonged Russia-Ukraine war.

On that day, from 9:53 a.m., Shinsong Holdings was trading on the KOSPI at 17,450 KRW, up 29.7% from the previous day. This is a 52-week high. The stock also closed at the daily limit on the 13th.

The company is a pure holding company of the Shinsong Group, which produces soy sauce and doenjang, and owns 100% subsidiaries including Shinsong Industry, a wheat starch company, and Shinsong Food, a producer of sauces (soy sauce, gochujang, doenjang).

The recent surge in Shinsong Holdings’ stock price appears to be driven by expectations of benefits from rising grain prices amid worsening inflation caused by the prolonged Russia-Ukraine war.

According to the United Nations Food and Agriculture Organization (FAO), the global food price index in May rose 22.9% year-on-year to 157.4 points (p).

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