[Edaily Reporter kyoungeun kim ] Amid a sharp decline in the KOSPI index, HANWHA AEROSPACE(012450)is the only stock showing a bullish trend.
According to MP Doctor, as of 9:24 a.m. on the 2nd, HANWHA AEROSPACE(012450)is trading at 1,118,000 won, up 27,000 won (2.47%) from the previous day. It briefly rose to 1,161,000 won during the session.
HANWHA AEROSPACE’s strong performance today is attributed to a combination of its further expansion of its stake in KOREA AEROSPACE INDUSTRIES (KAI) and its status as a beneficiary of the National Pension Service’s portfolio rebalancing.
HANWHA AEROSPACE announced today that its stake in KAI had increased from 10.15% (9,896,023 shares) to 11.21% (10,930,623 shares) as of the 30th of last month. With this purchase, HANWHA AEROSPACE’s direct stake in KAI now stands at 8.67%. When combined with those of its affiliates—HANWHA SYSTEMS (1.53%) and HANWHA AEROSPACE USA (1.01%)—the total stake held by the three companies in KAI reaches 11.21%.
Previously, on the 16th of last month, HANWHA AEROSPACE had raised its stake in KAI to 9.04%, surpassing the National Pension Service to become the second-largest shareholder behind the Export-Import Bank of Korea (26.41%). This latest purchase is seen as a move to further strengthen its influence over KAI.
In addition, the National Pension Service’s net purchases of HANWHA AEROSPACE shares as part of its domestic stock portfolio rebalancing appear to have contributed to the improvement in investor sentiment. This is a notable trend, given that HANWHA AEROSPACE and KB Financial Group were the only two of the top KOSPI-listed companies by market capitalization to show strength on that day.