Maniker hits the daily limit and SK Eternix surges as the World Cup opens
Maniker, buoyed by expectations of a World Cup boost, hit the daily upper limit on 6month 11day, while SK Eternix, on news of a renewable-energy business deal with KKR, hit the daily upper limit on 6month 10day and rose in the 6month 11day by the 12% range. Poultry-related stocks, including Foodnamoo, also rose in tandem.
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10On 11day, some stocks on KOSPI and KOSDAQ surged. Renewable-energy-related stocks and poultry-related stocks were representative examples. News of a renewable-energy business transaction with KKR and expectations of a World Cup boost were cited as the background to the surge.
SK Eternix hit the daily upper limit on 6month 10day on news of cooperation with KKR in the renewable-energy business. On 6month 11day, its share price rose by the 12% range on expectations of a reshuffling of the renewable-energy business. Reports described the transaction with KKR as a big deal.
Maniker hit the daily upper limit on 6month 11day on expectations of a World Cup boost. Foodnamoo and some poultry companies also saw their share prices surge during the same period. Articles reported that World Cup demand was affecting related companies.
In the broiler industry, a trend was observed in which consumption demand during the tournament period was reflected in share prices. Related articles cited expectations of increased sales and promotional demand as the reason. Reports said that trading value rose for many stocks.
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The World Cup opened on 6 month 11 day. The tournament runs from 6 month 11 day to 7 month 11 day. Share-price fluctuations continued in related sectors on the South Korean stock market.