[Featured Stock] Daewon Industry Hits Upper Limit on 'Carnival Effect'... New 52-Week High

[Asia Economy Reporter Ji Yeon-jin] Daewon Industrial, an automotive parts manufacturer, hit the upper price limit on the stock market on the 2nd, setting a new 52-week high.

As of 9:16 AM that day, Daewon Industrial was trading at 7,370 KRW, up 1,700 KRW (29.98%) from the previous day. The company, which started trading at 6,170 KRW, went straight to the upper limit from the early session following news of strong sales of Kia's Carnival.

Daewon Industrial exclusively supplies seats for the Carnival model, which has ranked first in sales at Kia for five consecutive months. Last month, Kia sold 41,481 units domestically, with 8,043 units of the Carnival sold.