Hanwha Ocean fluctuates in early trading on Canadian submarine contract news; Samsung announces earnings

Hanwha Ocean plunged by around % in pre-market trading over news related to Canada's submarine project.18Investors are paying attention because the contract result directly affects the company's revenue and share price.

Samsung Electronics announced on 2quarter operating profit of 89trillion4,000hundred million won and revenue of 171trillion won. It 7month 6day announced that these were the official earnings figures disclosed by the company.

However, Samsung Electronics shares declined by around % in pre-market trading.2The flow of investor orders tilted toward selling rather than buying.

Meanwhile, in connection with Canada’s submarine project, Hanwha Ocean at one point in early trading12also recorded a sharp rise in the % range. Large fluctuations have repeatedly appeared in the same trend.

The Canadian prime minister said that the two bidders, TKMS and Hanwha, had both met all the demanding requirements. The prime minister’s remarks suggested that the contract race was extremely close.

The project is reportedly worth up to54trillion. The scale of the winning company’s project and the future schedule will be determined depending on the timing and manner of the project announcement.

In the market, Hanwha Ocean’s share price moved sharply in pre-market trading in connection with expectations of winning the contract, and volatility continued during the session. It was a day when individual issues had a major impact on the stock price in early trading, separate from Samsung Electronics’ announcement of record-high results.