Daewoo E&C Surges 361%! List of '50 Trillion Won Reconstruction Jackpot' Triggered by Middle East War Revealed
As expectations grow that Middle East geopolitical risks will ease following news of a ceasefire agreement between the United States and Iran, construction stocks are showing strength early in the trading session. Expectations for improved overseas contract conditions are being reflected in stock prices.
According to the Korea Exchange on the 8th, as of 9:42 AM, Daewoo E&C is trading at 21,250 won, up 22.48% from the previous trading day. Daewoo E&C rose as high as 21,850 won during trading, renewing its 52-week high.
In addition, major construction companies including DL E&C (15.61%) and Hyundai E&C (11.03%) also surged simultaneously, breaking new highs.
This is interpreted as being influenced by news that the United States and Iran have effectively agreed to a two-week ceasefire. U.S. President Donald Trump raised expectations for easing tensions by stating he would halt attacks on the condition that Iran agrees to open the Strait of Hormuz.
Securities firms are also paying attention to nuclear power plant contract momentum. Kim Se-ryeon, a researcher at LS Securities, analyzed that "expectations for overseas nuclear power plant contracts, including the Czech Dukovany nuclear plant and Vietnam's Ninh Thuan project, are being reflected," adding that "the possibility of including nuclear power projects in the U.S. investment process will also serve as short-term stock price momentum."
