Battery stocks rebound, with Samsung SDI, LG Energy Solution and others rising together
Battery stocks rebounded on hopes for a recovery in European electric-vehicle sales and demand for energy storage systems (ESS). Samsung SDI and other major battery stocks rose together.
Battery stocks, which had been shunned amid concerns about slowing global electric-vehicle demand, are moving again. Reports say expectations for a recovery in demand are flowing in, beyond a technical rebound driven simply by excessive losses. The securities industry cited the European market, ESS demand and policy expectations as reasons for the rebound.
31According to the Korea Exchange, Samsung SDI 5 in 29 at the closing price on 1.78% higher at 68ten thousand8000won. Recent share-price movements have been notable. Some buying has returned.
Over the past 28during intraday trading, Samsung SDI 9 surged nearly %20 rose more than % over the following week. This trend has drawn market attention.
On the same day, LG Energy Solution rose 3.62% . POSCO Future M gained 3.36%. Major battery stocks advanced together.
According to securities firms’ analysis, this year 1~4 European electric vehicle sales were 26% higher than in the same period a year earlier. A recovery trend in the European market is said to be emerging. This reportedly led to buying in battery stocks.
In addition, expanded demand for energy storage systems and expectations for policy momentum are supporting buying. Some stocks are seen as having gained not only from a technical rebound but also from growing expectations of a demand-driven recovery. Related trends are expected to affect share prices for the time being.
Sources: 파이낸셜뉴스 증권
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