[Featured Stock] Strong Rise in Shipbuilding Stocks... HD Hanguk Joseon Haeyang Soars Over 12%

Stocks in the shipbuilding sector are showing strong gains. HD Hyundai Heavy Industries Holdings surged more than 12%.

As of 11:02 AM on the 6th, HD Hyundai Heavy Industries Holdings is trading at 194,800 KRW, up 12.73% from the previous day. Other shipbuilding stocks such as HD Hyundai Heavy Industries (11.83%), Hanwha Engine (8.83%), Samsung Heavy Industries (8.36%), and Hanwha Ocean (7.98%) are also on the rise.

This is interpreted as a result of bargain hunting following the recent sharp stock market decline due to concerns over a US economic recession. Additionally, some stocks appear to have gained further momentum from expectations of LNG carrier orders originating from Qatar.