The Korea Exchange announced on the 6th that it will designate Daesang Holdings preferred shares, whose stock price has recently surged, as an investment risk item. Accordingly, trading of Daesang Holdings preferred shares will be suspended for one day on the 7th.
Daesang Holdings preferred shares recorded the upper price limit for seven trading days since the 27th of last month. This is the longest consecutive trading days hitting the upper limit for preferred shares since the price limit was expanded to 30% on June 15, 2015.
Earlier, as Daesang Holdings preferred shares showed a sharp rise, the Exchange designated the stock as an investment warning item and suspended trading for one day on the 4th.
After trading resumed the previous day, Daesang Holdings preferred shares closed at the upper price limit for two consecutive days including this day.
Investment risk items have their trading suspended for one day on the day of designation, and if the stock price remains higher than the price on the day before designation for three consecutive days thereafter, trading may be additionally suspended for one more trading day.
Daesang Holdings preferred shares continued their surge after a photo of Han Dong-hoon, Minister of Justice, and actor Lee Jung-jae, who is the partner of Lim Se-ryeong, Vice Chairman of Daesang Holdings, having dinner together was posted on internet communities, grouping the stock as a 'Han Dong-hoon theme stock.'
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
