Samsung Biologics set a new record for its highest price ever. It surpassed LG Energy Solution to rank third in market capitalization in the KOSPI during trading.
Samsung Biologics shares traded at 1,141,000 won in the KOSPI market at 9:37 a.m. on the 7th. The stock price rose by 4.78% (52,000 won) compared to the previous day. Earlier in the session, the stock price jumped to 1,144,000 won, marking an all-time high.
Based on the current stock price, Samsung Biologics' market capitalization is 81.21 trillion won. It surpassed LG Energy Solution's market capitalization of 79.56 trillion won, securing the third position in the KOSPI market.
Expectations that Samsung Biologics will continuously increase its performance appear to have stimulated investor sentiment. The fourth plant of Samsung Biologics is expected to drive growth as it commences full operation this year. The fifth plant is also slated to begin operations in April.
The decreasing interest rates have also created a favorable environment for the biotechnology sector, which pushed up the stock prices. The 10-year U.S. Treasury bond, which serves as the benchmark for global bond rates, surged to 4.8% last month but currently remains in the 4.4% range.