FSN is showing strength. It is interpreted to be influenced by former U.S. President and Republican presidential candidate Donald Trump expressing support for the Chinese video platform TikTok.
As of 1:32 PM on the 18th, FSN is trading at 2,035 won, up 3.04% from the previous day.
In an interview with a foreign media outlet, former President Trump said, "I'm for TikTok because competition is necessary. Even without TikTok, there is Facebook and Instagram."
He has criticized Meta Platforms-owned Facebook and Instagram for suspending his accounts for two years following the January 2021 Capitol riot, and in an interview last month, he mentioned that he would not support a ban on TikTok.
Meanwhile, FSN is known to have a history of signing advertising agency contracts with TikTok and China as well as global contracts through its subsidiary Behave Global in 2019. It is also reported to have secured a first-class official marketing status with TikTok.
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