Dongil Rubber Belt is showing strength. This is interpreted as a result of attention on Caterpillar, a US heavy equipment company, following news that the possibility of re-election has increased due to the shooting incident involving former President Donald Trump, the Republican presidential candidate.
As of 10:51 AM on the 15th, Dongil Rubber Belt is trading at 8,520 KRW, up 6.63% compared to the previous day.
On the 13th (local time), a shooting incident targeting former President Donald Trump, the Republican presidential candidate, occurred during an outdoor rally. Former President Trump was urgently evacuated surrounded by bodyguards while bleeding from his ear, and fortunately, it was confirmed that the bullet only grazed him and he was unharmed. Foreign media have expressed opinions that this shooting incident has increased the possibility of former President Trump's re-election.
As a result, Caterpillar, considered a Trump-related stock, attracted attention in the New York stock market. Caterpillar operates in the construction equipment business, including excavators, loaders, and dump trucks. It also has an engine solutions business that includes generators, industrial turbines, and marine power systems.
Wall Street recommends holding Caterpillar as part of a diversified portfolio. There is a prevailing optimism that the stock prices of companies classified as ‘heavy, large, and long-term’ in sectors such as power, infrastructure, and machinery construction will perform well in the future. Expectations that the US government's large-scale infrastructure investment and the re-election prospects of former President Donald Trump, the Republican presidential candidate, will act as growth drivers are being reflected in Caterpillar's stock price.
Meanwhile, Dongil Rubber Belt signed a contract in May to supply rubber tracks worth 277.6 billion KRW to US-based Caterpillar. This amount corresponds to about 77.6% of Dongil Rubber Belt's sales of approximately 357.7 billion KRW last year. Rubber tracks are components that serve as continuous track tires used in construction equipment such as excavators.
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