2024-04-18 09:45:00
“Isn’t the shipbuilding industry entering a super cycle? “I look forward to a spectacular recovery like in 2007.”
Shipbuilding stock investors smiled brightly on the Korean stock market on the 18th. The catalyst was the hope that the raging US-China trade war in semiconductors and vehicles electrical, would have repercussions on the shipbuilding industry.
On the 17th, the White House announced that it was investigating China’s unfair trade practices in the shipbuilding, maritime and logistics sectors. This follows a petition to the Joe Biden administration by five unions, including the United Steelworkers (USW), to investigate the Chinese government’s unfair trade practices.
On that day, stock prices of shipbuilding-related industries soared on the domestic stock market due to the good news from the United States. If the United States controls China’s shipbuilding industry, which has the largest global market share, Korean shipbuilders can expect a comeback. That day, the combined purchasing power of foreigners and institutions drove the stock price higher.
Graphics = Chosun Jeong Daun Design Lab
In particular, on this day, Samsung Heavy Industries, one of the three major Korean shipbuilders, rose more than 12% during the day, reaching a 52-week high (9,710 KRW). A buying storm continued throughout the day, with daily trading volume exceeding 38 million shares. Foreigners made net purchases of more than 108.4 billion won on that day alone, ranking first in foreigners’ net purchases based on the KOSPI. That’s more than the net purchases of second-place Samsung Electronics (81.7 billion won). According to the Korean Stock Exchange on the 18th, Samsung Heavy Industries’ net purchase amount of 108.4 billion won by foreigners is the highest since its listing in 1994. The closing price of Samsung Heavy Industries that day was 9,540 won, up 9.8% from the previous day.
Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) closed the day at 33,300 won, up nearly 15 percent, bringing its market capitalization to around 10 trillion won. This is the first time that Hanwha Ocean’s market capitalization has exceeded 10 trillion won since announcing a 2 trillion won paid-up capital increase in August last year. HD Hyundai Heavy Industries, with a market capitalization of more than 10 trillion won, also rose 8 percent on the day and closed at 120,300 won. HD Korea Shipbuilding & Marine Engineering closed at 119,400 won, up 6.3 percent from the previous day, and HD Hyundai Mipo closed at 64,900 won, up 9.8 percent.
Ulsan HD Site of Ulsan Shipyard of Hyundai Heavy Industries./Reporter Oh Jong-chan
It was also an exciting day for small and medium-sized shipbuilding companies. Sejin Heavy Industries climbed to 7,440 won during the day, hitting a 52-week high, and STX Heavy Industries also climbed to 14,400 won during the day. Shipbuilding equipment-related stocks such as Hyundai Hims (7.5%), Sungkwang Bend (6.9%), Hankook Carbon (6%) and Dongseong Finetech (5.4%) also rose significantly.
Exchange-traded funds (ETFs) containing stocks related to the shipbuilding industry also posted a sharp rise that day. The SOL Shipbuilding TOP3 Plus ETF rose 11% during the day, reaching its highest price since launch (10,410 won) (the closing price was 10,230 won), and the HANARO Fn ETF Shipbuilding also rose nearly 7%, closing at 10,675 won.
Ha Geon-hyeong, a researcher at Shinhan Investment & Securities, said in a recent appearance on Chosun Ilbo Money, the official YouTube channel of the Chosun Ilbo Economic Department: “Biotechnology and shipbuilding industries will benefit from the conflict between the United States and China (G2). “The United States has begun to regulate industries other than Chinese semiconductors, and biotechnology and shipbuilding are sectors where China has a significant place in global exports,” he said. .
1713444109
#bought #Samsung #Electronics.. #stock #bought #storm #foreigners