CJ Logistics shares surged in early trading on the 11th. Investor sentiment appears to be flocking on expectations that regulations on early‑morning delivery by big-box retailers will be eased.
As of 10:11 a.m. that day, CJ Logistics stock was trading at 148,700 won, up 8.78% (12,000 won) from the previous day.
Recently, the government and the ruling party decided to allow early‑morning delivery by big‑box retailers for the first time in 14 years, drawing attention to big‑box retailers and parcel carriers as beneficiaries.
The Democratic Party of Korea, the government and the presidential office held a high-level party‑government meeting at the prime minister's residence in Samcheong‑dong, Seoul, on the afternoon of the 8th and agreed to push to revise the Distribution Industry Development Act to that effect.
On top of that, record‑high earnings also helped. CJ Logistics said the previous day that, on a consolidation basis, it posted sales of 3.1771 trillion won and operating profit of 159.6 billion won in the fourth quarter of last year. Both sales and operating profit were the highest ever for a quarter.