Samsung SDI closes at 68ten thousand8000won as secondary battery stocks rebound
Secondary battery stocks rebounded. Samsung SDI's 29closing price on the day was 68ten thousand8000won, up 1.78% from the previous day. Major battery stocks, including LG Energy Solution and POSCO Future M, also rose. A recovery in European electric vehicle sales and expanding ESS demand were cited as the background.
Secondary battery stocks are showing a rebound. According to the Korea Exchange, Samsung SDI traded at 29as of the closing price on the day, 68ten thousand8000won. The closing price was up 1.78% from the previous day.
During intraday trading on the previous trading day, it surged by nearly 9%. Recently, the share price has risen by more than 7% in 20trading days. In some stocks, short-term profit-taking and buying pressure were mixed.
LG Energy Solution rose 3.62% on the same day. POSCO Future M gained 3.36%. Major battery stocks all showed strength on the same day.
The securities industry cited a recovery in the European market as a key factor. According to Kiwoom Securities, this year 1~4 month, European electric-vehicle sales 26% year on year. Sales of battery electric vehicles (BEVs) 38%, according to its tally.
Expanded demand for energy storage systems (ESS) and policy momentum have been cited as additional factors. The securities industry says these factors led to buying beyond a technical rebound following an excessive decline. Trading volumes and share-price movements in related stocks have both been observed to increase.
Sources: 파이낸셜뉴스 증권
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