As suspicions arose that Korea Electric Power Corporation and Korea Hydro & Nuclear Power made unfair contracts with the U.S. nuclear firm Westinghouse (WEC), the stock price of Doosan Enerbility, considered a representative nuclear energy stock, plummeted. In the process, it was estimated that individual investors suffered relatively large losses.
According to the Korea Exchange on the 21st, the stock price of Doosan Enerbility showed a downward trend for four consecutive trading days until the previous day. In particular, as the 'global agreement' between KEPCO, KHNP, and WEC came under scrutiny, on the 19th, the stock price dropped sharply from 65,100 won to 59,500 won, a decline of 8.6% (5,600 won). On the following day, the stock price fell more than 14% during the day before reducing losses and finished down 3.53% (2,100 won) at 57,400 won. It was the first time since July 7 that the stock price of Doosan Enerbility recorded a closing price in the 50,000 won range.
As the stock price of Doosan Enerbility fluctuated, investors quickly began to trade. Based on the transaction volume and amounts for Doosan Enerbility during the two days of significant stock price decline on the 19th and 20th, the average buying and selling prices were examined.
Foreign investors bought Doosan Enerbility shares at an average price of 56,087 won and sold them at 56,798 won. The difference between the buying and selling prices was a positive 711 won. Institutions also bought at an average of 56,087 won and sold at 56,798 won, showing a sell advantage of 162 won. This suggests that many investors likely made profits through trading.
In contrast, individuals bought Doosan Enerbility shares at an average of 56,646 won and sold them at 56,504 won, indicating a negative difference of 142 won.
When broadening the timeline, it appears individuals had relatively poor investment performance. Following the so-called 'mutual tariff shock' that caused Doosan Enerbility to hit a record low on April 9, examining the average buying and selling prices by investors shows that foreign and institutional investors had average selling prices that were 1,583 won and 1,095 won higher than their buying prices, respectively. In contrast, individuals bought at 51,463 won and sold at 51,063 won, resulting in a buying and selling price difference of -400 won.
In the rebound phase, individuals also made profits. As stock prices for KEPCO and BH among other nuclear energy stocks fell sharply on the 20th and then rebounded, individuals' selling prices were higher than their buying prices. It appears that institutions likely incurred losses.
As interpretations of the contents of the global agreement between KEPCO, KHNP, and WEC diverged, stock prices in the nuclear energy sector also fluctuated. The issues included KEPCO and KHNP agreeing to pay a technology usage fee of $175 million (about 240 billion won) each time they export a nuclear reactor to WEC for the next 50 years and agreeing not to secure new nuclear power projects in North America, the European Union (EU), the United Kingdom, Ukraine, Japan, and other regions.
Concerns arose that profitability may deteriorate and hinder the securing of new nuclear power projects. However, there were rebuttals suggesting that considering the project cost of 13 trillion won for each nuclear reactor in Dukovany, Czech Republic, there wouldn't be significant issues. It was also confirmed that pursuing overseas nuclear markets with WEC does not imply abandoning major markets like the U.S. or the EU.
On this day, the stock price of Doosan Enerbility rose to 60,300 won by 9:55 a.m., up 5.05% (2,900 won) from the previous day, rebounding to the 60,000 won range. Individuals made net purchases worth 22 billion won while the stock price of Doosan Enerbility had fallen for four consecutive trading days.