 |
Photo = LS Electric |
[Alpha Biz= Reporter Kim Minyoung] LS Electric experienced a significant surge following its inclusion in the MSCI Korea Index. On August 14, the company saw its stock rise by 4.52% to close at 175,900 won. During the day, the stock price exceeded 180,000 won, marking a gain of over 9%.
Despite a 3.61% drop on August 13, attributed to anticipatory adjustments, investor sentiment improved following a rally in U.S. AI and tech stocks. This optimism extended to related sectors, with shares of power and cable companies like KBI Metal (13.73%), Daewon Cables (7.28%), and Gaon Cables (5.37%) also climbing.
MSCI's recent August review announced LS Electric's addition to its global index, a move often followed by increased fund inflows into ETFs tracking the index. NH Investment & Securities estimates that approximately 134.9 billion won will flow into LS Electric as a result of the inclusion. The index rebalancing will occur on August 30, with the changes becoming effective on September 2.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
