[Market Highlight] Hanwha Ocean Rises on Expectations of Strong Q1 Earnings

Hanwha Ocean, which is set to announce its first quarter earnings this year, is showing strong performance in early trading on April 28.

As of 10:03 a.m. on this day, Hanwha Ocean shares were trading at 92,900 won, up 3.34% from the previous trading day. The stock surged to 95,300 won immediately after the market opened, hitting a new 52-week high. Hanwha Ocean had closed higher for four consecutive trading days prior to this.

It is interpreted that buying momentum has increased due to heightened expectations for strong earnings. Hanwha Ocean is scheduled to announce its first quarter results later this afternoon. According to FnGuide, Hanwha Ocean's estimated operating profit for the first quarter is 159.2 billion won, which is a 201% increase compared to the same period last year.

Ahn Yudong, a researcher at Kyobo Securities, said, "Despite a decrease in the number of working days, we expect Hanwha Ocean to deliver results that exceed market expectations, thanks to the recognition of sales from high-priced, high-profitability vessels and the effect of a higher average exchange rate."