[Featured Stock] NI Steel Surges on Explosive Q1 Earnings

[Asia Economy Reporter Lee Seon-ae] On the 25th, NI Steel's stock price surged sharply due to a significant increase in first-quarter earnings.

As of 9:37 AM that day, the stock was trading at 5,770 KRW, up 6.85% from the previous trading day. It started at 5,360 KRW and soared to 6,250 KRW during the session.

This is interpreted as a buying spree driven by the sharp rise in first-quarter earnings. NI Steel announced that its first-quarter operating profit on an individual basis was 15.081 billion KRW, a 148% increase compared to the same period last year. Sales during the same period rose 60.47% to 78.213 billion KRW. Net profit for the period was preliminarily estimated at 11.162 billion KRW, up 154.9%.