[Featured Stock] SK Hynix Etronics: Stock Rises for Second Day on Renewable Energy Earnings Expectations

SK Hynix Eteranix's stock price has surged for two consecutive days. Amid expectations that sales will expand significantly in the second half of the year, enthusiasm for related businesses has grown after the Democratic Party candidate, who emphasized the expansion of renewable energy during the US presidential candidate TV debate the previous day, gained the upper hand.

Press corps watching the U.S. presidential candidate TV debate (Philadelphia AP=Yonhap News)

On the 3rd, in the stock market, SK Hynix Eteranix was trading at 19,400 KRW as of 9:24 AM, up 5.60% from the previous day's closing price. The stock price briefly surpassed the 20,000 KRW mark during the morning session before experiencing some correction. It has shown a sharp rise for the second day following a limit-up the previous day.

SK Hynix Eteranix was established in March this year through a spin-off from SK D&D. It operates businesses related to renewable energy, fuel cells, and energy storage systems (ESS). Due to the spin-off, its sales in the first half of the year were only 18.1 billion KRW. However, as construction for onshore and offshore wind power and fuel cell power generation is expected to accelerate in the second half, sales recognition is anticipated to begin in earnest.

In the second half of the year, the securities industry forecasts that sales will exceed 300 billion KRW due to increased progress in the Gunwi Pungbaek onshore wind power project, completion of fuel cell power plants in Chilgok, Yakmok, and Boeun, and the commencement of the Shinan Ui offshore wind power project.

The US presidential candidate TV debate the previous day also influenced the stock price rise.

In the debate between Republican presidential candidate former President Donald Trump and Democratic candidate Vice President Kamala Harris, Harris dominated Trump, raising expectations that the Democratic Party's policy to expand renewable energy will be maintained.

In contrast to Harris, Trump advocates for increasing the use of inexpensive energy sources such as oil and coal.