With the 9th nationwide local elections held on the 3rd, the fortunes of political theme stocks are also diverging depending on whether candidates win.
As of 9:24 a.m. on the 4th, Chinyang Industry is trading at 5,810 won, up 20.04% (970 won) from the previous session. ChinYang Polyurethane and Chin Yang Chemical are also surging.
All three stocks are classified as theme stocks tied to Oh Se-hoon, the People Power Party's candidate for Seoul mayor. The reason is that Yang Jun-young, vice chair of Chinyang Holdings, is an alumnus of Korea University with Oh.
By contrast, SJ Group, classified as a theme stock tied to Chong Won-o, the Democratic Party of Korea's candidate for Seoul mayor, is plunging 27.16% (1,005 won) to 2,695 won. Ryuk-Il C&S and SAMPYO Cement are also falling.
These corporations are based in Seongsu-dong, Seoul, and were grouped as theme stocks linked to Chong's resume as former head of Seongdong District Office.
Hwacheon Machinery, classified as a theme stock tied to Cho Kuk, the Rebuilding Korea Party candidate in the Pyeongtaek-eul by-election in Gyeonggi, is also at 3,165 won, down 26.74% (1,155 won) from the previous session. By contrast, Duksung preferred shares, related to Han Dong-hoon, an independent candidate in the Busan Buk-gap by-election, are rising.
With the vote count for the 9th nationwide local elections nearly complete, political theme stocks are also diverging depending on whether candidates win.
Oh Se-hoon pulled ahead of Chong Won-o 13 hours into the count. With 97.70% of ballots counted, Oh is leading Chong by 0.6 percentage point (p).
Cho Kuk placed third and lost in the Pyeongtaek-eul National Assembly by-election in Gyeonggi. Han Dong-hoon won the Busan Buk-gap National Assembly by-election, finishing the count 1.75 percentage points ahead of Ha Jung-woo of the Democratic Party of Korea.