Battery stocks rebound, Samsung SDI 7 trading sessions later, 20% higher
Battery stocks rebounded. Samsung SDI's share price 7 after 20 trading sessions, while LG Energy Solution and POSCO Future M also rose sharply. The recovery in European electric vehicle sales and expanding demand for ESS were cited as the reasons.
Battery stocks, which had been shunned for some time amid concerns about slowing global electric vehicle demand, are rebounding. Some of the market's interest appears to be returning. Price volatility in related stocks has increased recently.
According to the Korea Exchange, Samsung SDI, on 29 close, stood at 68 million won8000, up 1.78% from the previous day's close. The stock price has moved over a short period recently. Trading by investors has resumed.
During intraday trading on 28, it was at one point observed to surge nearly 9%. Intraday volatility was high over the same period. There was a period when market participants engaged in concentrated trading.
In aggregate, 7trading sessions later, the share price 20% or more, according to the data. Securities industry analysts point to a technical rebound following an excessive decline. Some also view it as a sign of improving supply and demand.
On the same day, LG Energy Solution rose 3.62%, while POSCO Future M rose 3.36%. Major battery stocks advanced together. Buying momentum appeared to spread across several stocks.
According to securities firms’ analysis, a recovery in the European market, expanding demand for energy storage systems (ESS), and policy momentum have recently drawn in buyers. According to Kiwoom Securities, this year 1~4 months, European electric vehicle sales rose 26% year over year. These demand indicators are said to have affected investor sentiment.
Sources: 파이낸셜뉴스 증권
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