[Special Stock] Despite Nikola Risk... Hanwha Solutions Up 5%

[Asia Economy Reporter Minji Lee] Hanwha Solutions is showing a rise of over 5%. Although the hydrogen electric vehicle company Nikola is embroiled in fraud allegations affecting its stock price, Hanwha Solutions is expected to deliver higher-than-expected third-quarter earnings.

At 9:22 a.m. on the 28th, Hanwha Solutions was trading at 36,850 KRW, up 4.84% from the previous session. On the same day, the stock price surged to 37,300 KRW, a 6% increase.

Hanwha Solutions' third-quarter operating profit is estimated to rise 78% year-on-year to 192.1 billion KRW. Jiwoo Son, a researcher at SK Securities, said, “The chemical market conditions have been very favorable, and the rising prices in solar energy have highlighted positive momentum, raising expectations for earnings. However, the stock price has not recovered as it is reacting to the weakening green new deal momentum and the decline in equity value due to Nikola's fraud issue.”