[Featured Stocks] Biden Seizes Momentum... Beneficiary Stocks Hanwha Solutions and Other Eco-Friendly Shares Rise

[Asia Economy Reporter Minji Lee] As the vote counting for the 46th U.S. presidential election is underway, news that Democratic candidate Joe Biden is on the verge of victory has led to a simultaneous rise in related beneficiary stocks, particularly eco-friendly stocks.

[Image source=AP Yonhap News]

At 9:07 AM on the 5th, Hanwha Solutions was trading at 46,050 KRW on the KOSPI market, up 7.85% from the previous session. After nearly a 10% plunge the previous day, Hanwha Solutions surged to as high as 47,150 KRW at the start of trading, showing a sharp rise. Although Trump’s re-election had been expected to be likely the day before, the overnight shift to Biden’s lead turned eco-friendly stocks, considered beneficiary stocks, into an upward trend.

CS Wind, a specialized manufacturer of wind power towers, was trading at 108,000 KRW, up 9.42% from the previous session at the same time. In addition, Sinsung ENG (7.9%), Hyundai Energy Solutions (5.65%), and Willings (8%) also rose, while offshore wind-related stocks LS and LS ELECTRIC increased by 2.9% and 2.3%, respectively.