[Featured Stock] Hanwha Ocean Hits 52-Week High on 'Trump Boost'

Hanwha Ocean hit a 52-week high during trading on the 21st. This is interpreted as investor sentiment being boosted amid expectations that cooperation between South Korea and the United States in the shipbuilding sector will expand following the inauguration of U.S. President Donald Trump.

At 2:30 PM on the 21st, Hanwha Ocean was trading at 54,500 KRW, up 2,700 KRW (5.21%) from the previous day.

Along with Hanwha Ocean, the three major domestic shipbuilders including HD Hyundai Heavy Industries and Samsung Heavy Industries are forecasted to post operating profits on a consolidated basis for the first time in 13 years last year. The launch of the second Trump administration is also seen as a positive factor.

Earlier, President Trump emphasized dominance in fossil fuels such as oil and gas drilling during his inauguration. If U.S. exports of natural gas and crude oil increase, it is expected to create opportunities for Korean shipbuilders, who have strengths in liquefied natural gas (LNG) carriers, which appears to have driven the stock prices. HD Hyundai Heavy Industries and Samsung Heavy Industries, which are expected to cooperate with the Trump administration, also hit 52-week highs along with Hanwha Ocean on the same day.

Seo Jae-ho, a researcher at DB Financial Investment, said about Hanwha Ocean, "Expectations for orders, including special vessels for the U.S. market, are increasing," and raised the target price to 61,000 KRW.