Renewed 'Green Momentum'... Rising Expectations for Eco-Friendly Stocks↑

Biden US Government's Detailed Budget Plan Also Emphasizes Eco-Friendly Initiatives
Expectations Rise for Attendance at Domestic Green Future Summit

U.S. President Joe Biden is speaking at a joint press conference held in the East Room of the White House after the South Korea-U.S. summit on the afternoon of the 21st (local time).
[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] Stocks related to eco-friendly industries are fluctuating. This is interpreted as the U.S. government is expected to strengthen the environmental protection sector in the detailed budget plan for the next fiscal year, and U.S. President Joe Biden is also attending eco-friendly events held domestically, heightening the 'green momentum.'

On the 27th, CS Wind, considered the leading stock in domestic wind power generation, opened at 78,000 KRW, up 0.78% from the previous day. At 10:35 a.m., it recorded 78,100 KRW. This marks a consecutive rise following the 25th and 26th. On those days, CS Wind's stock closed up by 7.14% and 3.20%, respectively.

Doosan Fuel Cell, which operates in the hydrogen fuel cell business, is also on the rise. It opened at 43,100 KRW, up 2.86% from the previous day, and early in the session reached 43,400 KRW. Over the past two trading days, it has risen about 5.7%. During the same period, the KOSPI index only increased by 0.8%. Additionally, solar energy-related stocks such as KC Cottrell and Sinsung ENG have shown similar trends recently, exhibiting early session gains on this day.

This is interpreted as the detailed budget plan for the next fiscal year, to be released by the Biden administration on the 28th, is expected to include specific investment plans for environmental protection. The U.S. government has already confirmed that public health and environmental protection are President Biden's national priorities while announcing the budget outline.

President Biden's expressed intention to personally attend domestic eco-friendly events is also seen as a positive factor. The 'Green Future (P4G) Summit' to be held in Seoul on the 30th will be attended by over 60 heads of state and international organization leaders, including P4G member countries and major nations. President Biden, invited by President Moon Jae-in, will participate via video conference. Kim Hyun-kyung, a senior researcher at Samsung Securities, explained, "With interest rates stabilizing, which had been a burden on growth companies, attention has focused on President Biden's policy events," adding, "It is time to reconsider eco-friendly companies."