Will the 'Korean New Deal' Bring Benefits? Related Stocks Stirred by Expectations

[Asia Economy Reporter Oh Ju-yeon] Related stocks rose in unison due to anticipation of the announcement of the Korean New Deal comprehensive plan scheduled for the 14th. Some analysts suggest that if this anticipation continues, the KOSPI could surpass the 2200 mark.

According to the Korea Exchange on the 13th, Doosan Fuel Cell traded at 39,450 won as of 9:52 a.m., up 17.06%, driven by expectations for the government's Green New Deal policy.

Doosan Fuel Cell has long been considered a beneficiary of hydrogen policies, with its stock price continuing to soar. The closing price on the 1st of last month was 15,050 won, but during trading on this day, it surged to 39,800 won, more than doubling. Doosan Fuel Cell preferred shares also rose, trading at 15,300 won, up 10.04% from the previous trading day.

CS Wind, a wind tower manufacturer, has also shown a steep rise in stock price since the beginning of this month. CS Wind's closing price on the 1st was 42,900 won, rising 33.33% to 57,200 won during trading on the 7th. At this time, CS Wind was trading at 55,300 won, up 0.18% from the previous day.

Other stocks such as Hanwha Solutions (2.21%) and OCI (1.99%) also rose.

Stocks related to the Digital New Deal, along with the Green New Deal, are also showing signs of price movement. There is analysis that 5G and telemedicine could attract attention.

Labor Gil, a researcher at NH Investment & Securities, said, "In the case of the Green New Deal, it is expected that beneficiary industries and stocks will become more specific with the disclosure of detailed plans," adding, "With the announcement of the European hydrogen economy roadmap and the strength of U.S. solar and hydrogen energy-related stocks, interest in renewable energy-related stocks could increase."

Meanwhile, the government plans to announce the Korean New Deal comprehensive plan, a national project for economic recovery after the novel coronavirus infection (COVID-19). Previously, the government presented goals to foster a data, network, and artificial intelligence (AI) ecosystem, build remote education and non-face-to-face medical infrastructure, and create 550,000 sustainable jobs.