[Special Stock] The Only Gainers Among Top 50 Market Cap Stocks: Kia and HMM

[Asia Economy Reporter Lee Seon-ae] On the 26th, as the KOSPI index fell by 3.23%, the top 50 stocks by market capitalization all showed a downward trend, with only Kia Motors and HMM rising.

As of 2:13 PM that day, Kia Motors was trading at 78,700 KRW, up 2.21%. HMM recorded 18,600 KRW, up 1.09%. Kia Motors' rise is interpreted as being driven by the possibility of cooperation with Apple. It was reported that Apple and Kia Motors are discussing collaboration in the 'last mile' mobility sector, separate from electric vehicles. Last mile mobility refers to transportation means used to cover the remaining distance to the final destination after using public transportation. Electric scooters and electric bicycles are representative last mile mobility options. In addition, Apple and Kia are known to be continuing negotiations in a wide range of fields including electric vehicles.

HMM's rise is attributed to expectations of freight demand. HMM is expected to return to profitability in the first quarter of this year. Lee Han-jun, a researcher at KTB Investment & Securities, explained, "Even excluding the base effect of COVID-19 last year, the cargo volume is higher than during the inventory restocking in 2017," adding, "Strong demand and supply shortages will continue throughout the first half of the year." Accordingly, KTB Investment & Securities raised HMM's target price from 20,000 KRW to 24,000 KRW.

Meanwhile, Samsung Electronics, SK Hynix, NAVER, Samsung Electronics Preferred Shares, LG Chem, and others all showed a downward trend.

With foreign investors and institutions selling in tandem, the KOSPI broke below the 3,000 mark during the session.