On the 21st, the first day of Donald Trump's presidency, domestic shipbuilders are strong in early trading.
As of 9:47 a.m. on the same day, Hanwha Ocean is trading at 54,100 won, up 2,300 won (4.44%) from the previous trading day. Samsung Heavy Industries is also trading at 13,770 won, an increase of 2.08% from the previous trading day.
Hanwha Ocean and Samsung Heavy Industries each rose to 54,100 won and 13,860 won during trading, marking a new yearly high.
At the same time, HD Hyundai Mipo (8.97%), HD Korea Shipbuilding & Offshore Engineering (2.66%), and Hyundai Heavy Industries (3.40%) are also on an upward trend. HD Korea Shipbuilding & Offshore Engineering also rose to 251,500 won, reaching a yearly high for the day.
The strength of the shipbuilding stocks is interpreted as reflecting expectations for benefits as the second Trump administration commences. President Trump has emphasized cooperation with South Korean shipbuilders.
Lee Dong-hun, a researcher at Shinhan Investment Corp., noted, "In the shipbuilding industry, external variables such as seasonal peak periods, a weak won, falling plate prices, stabilization of processes, and the settling of foreign personnel are positive," adding, "Stock prices have surged, but the market condition is robust."