Power equipment-related stocks were strong in early trading on the 19th. Investor interest appeared to be gathering on expectations from the securities industry that power equipment shares will rebound on the back of favorable industry conditions.
At 9:39 a.m., LS Electric on the Korea Exchange was trading at 271,000 won, up 29,000 won (11.98%) from the previous session.
At the same time, Hyosung Heavy Industries (7.99%), Sanil Electric (6.21%), LS (5.27%), and HD Hyundai Electric (4.88%) were also rising in succession.
The securities industry analyzed that power equipment-related shares entered a recovery after undergoing considerable corrections from May to early June.
Seong Jong-hwa, an LS Securities analyst, said, "Power equipment shares surged steeply around the first-quarter earnings releases and overheated, leading to corrections from May to early June, but they have been recovering again since mid-June," adding, "With the market led by extra-large products showing strong conditions, orders are expected to increase accordingly."