[Featured Stock] Hengsheng Group 'Rises' on Expectations of Shanghai Lockdown Lift in China

[Asia Economy Reporter Junho Hwang] On the 27th, the stock price of China's Hengsheng Group showed a strong performance in the stock market.

As of 2:08 PM on the same day, Hengsheng Group's stock price rose 27.13% to 403 won. The surge appears to be due to news that Shanghai, China, which had been locked down due to the spread of the novel coronavirus infection (COVID-19), will fully lift the lockdown within this month.

Earlier, Deputy Mayor Zhong Ming of Shanghai stated at a press conference held via video on the 16th, "By the 1st of next month, we will reach a stage where the entire city fully recovers normal production and living order."

He added, "By mid-June, under the overall goal of thoroughly preventing the risk of epidemic spread, we will fully implement normalization and completely restore normal life and living order."

Hengsheng Group is a company that independently develops children's toys through its local operating subsidiaries in China.