Shinhan Financial Group surges amid a KOSPI decline 6.09%, bank stocks gain
5in morning trading, major financial holding companies posted gains. Shinhan Financial Group rose 6.09% to 10ten-thousand6thousand100won, while KB Financial Group and Woori Financial also advanced. The strength in U.S. financial stocks and the easing of uncertainty following the finalization of the penalty related to ELS linked to the Hong Kong H Index were cited as the backdrop.
5in the morning, as of 10, major financial holding company stocks rose across the board in early trading on the Korea Exchange. The KOSPI was declining at the same time, but bank stocks continued their upward trend. Shinhan Financial Group traded at 6.09% above the previous trading day at 10ten-thousand6thousand100won.
Woori Financial traded at 2.96% higher at 3ten-thousand1thousand400won. Some financial stocks showed notable buying demand in early trading. The strength centered on bank stocks drew market attention.
KB Financial Group rose 3.11% and traded at 16ten-thousand9thousand300won. Sector rotation centered on financial stocks was observed in U.S. markets that day. Uncertainty related to the finalization of the penalty for Hong Kong H Index-linked equity-linked securities (ELS) was resolved.
These factors are understood to have combined to improve investor sentiment toward domestic financial stocks. Financial stocks showed relatively strong performance in the morning session. Trading is still underway.
At the beginning of the session, major financial holding companies showed a different trend from the KOSPI. The extent of gains and losses varied by individual stock. Movements after the afternoon session may change depending on earnings announcements or additional disclosures.
Sources: 연합인포맥스
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