[Market Focus] Inter-Korean Economic Cooperation Stocks Rally on Prospects of North Korea-US Summit... Codes Combine Surges Over 11%

While the Korean stock market is experiencing a sharp decline, inter-Korean economic cooperation stocks are showing strong performance in early trading on November 5. Investor sentiment appears to have recovered due to the possibility of a North Korea-United States summit.

As of 9:58 a.m. on this day, shares of Codes Combine on the KOSDAQ market were trading at 2,815 won, up 11.93% from the previous trading day. The stock opened at 2,675 won and expanded its gains, reaching as high as 3,045 won during intraday trading.

At the same time, Yangji Corporation (up 9.12%), Good People (up 7.26%), J. Estina (up 2.79%), and Ananti (up 1.51%) were also rising.

On the KOSPI market, stocks classified as beneficiaries of inter-Korean economic cooperation such as INDF (up 4.87%), Shinwon (up 2.27%), and Hyungji Elite (up 1.17%) were also strong.

The National Intelligence Service stated during a National Assembly Intelligence Committee audit the previous day that the likelihood of a North Korea-United States summit being held is high, and that March of next year is expected to be a turning point. The agency also reported that there were signs North Korea was deliberating until the last minute in preparation for talks with the United States ahead of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju.