Nuclear power stocks are on the rise. The news that Korea has re-entered the overseas nuclear power plant business following 13 years served as a positive factor.
According to the Korea Exchange on the 28th, Korea’s representative nuclear power plant owner
(formerly Doosan Heavy Industries & Construction) rose 4.7% over the past week. The monthly increase rate reached 24.8%. It also rose 4.1% in one week and 20.3% in one month. Other nuclear stocks, such as (36.6%) and (23.1%), also surged in the past month.
The news that Korea won a large-scale overseas nuclear power plant construction project had an impact. On the 25th, Korea Hydro & Nuclear Power announced that it had won regarding 3 trillion won worth of turbine construction and equipment supply rights out of a total of 30 billion dollars (regarding 40 trillion won) of El Dava nuclear power plant construction project in Egypt. It is the first time in 13 years that Korea has entered a large-scale overseas nuclear power plant project following winning an order for the Barakah nuclear power plant construction project in the United Arab Emirates (UAE) in 2009.
As a policy beneficiary, nuclear power stocks are also expected to provide additional momentum. Ha In-hwan, a researcher at KB Securities, said, “Independent of concerns regarding the economic slowdown, investment in some industries may increase for political reasons.” “Nuclear stocks are expected to benefit from government policies.”
Correspondent Seyeong Choi [email protected]
