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[Alpha Biz=(Chicago) Reporter Paul Lee] The LG Energy Solution has surpassed 115 trillion won in market capitalization, the largest increase since its listing on the ban on short stock selling.
On the 6th, LG Energy Solution closed at 493,500 won, up 91,500 won (22.76%) from the previous trading day.
Previously, the maximum daily growth rate of LG Energy Solutions was 8.73% (February 7, 2022), which was less than double digits.
The market capitalization of LG Energy Solutions, which stood at 94 trillion won, has increased by more than 20 trillion won in a day and is now worth 115 trillion won. LG Energy Solutions, which had been barely second in KOSPI market capitalization, surged by 22% on the same day, widening the gap with SK Hynix (000660) (96 trillion won in market capitalization), the third-largest market capitalization.
The rise was led by foreign investors. Foreigners net bought KRW 119.6 billion, while institutions and individuals net sold KRW 5.1 billion and KRW 113.5 billion, respectively.
The LG Energy Solution ranked second in the KOSPI market short selling transaction amount (43.4 billion won) as of the 3rd. The rise is attributed to growing expectations for short-covering as public sales have been banned altogether. POSCO Future M (003670), the No. 1 short selling company in the KOSPI market, closed at the upper limit of 349,500 won, up 80,500 won (29.93%) from the previous trading day.
On the previous day, the Financial Services Commission held a temporary Financial Services Commission meeting and said it will ban the public sale of the entire Korean stock market, including the KOSPI market, the KONEX market and shares listed on the KONEX market, by June 30, 2024.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
