[Edaily Reporter PARK MIN ] Construction stocks, including KUMHOE&C(002990)and Nam Hwa Construction Company, Limited(091590), are all showing strength in early trading on the 30th. Investor sentiment appears to be improving, driven by bargain-hunting in construction stocks—which had suffered heavy losses following the recent market plunge—as well as expectations for government economic stimulus measures and expanded investment in social overhead capital (SOC). Workers are at work at an apartment construction site in Seoul. (Photo: E-Daily reporter Lee Young-hoon) According to MP Doctor, as of 9:56 a.m. today, KUMHOE&C(002990)and KUMHOE&C(1P)(002995)both surged to their daily price limit (30.00%) and hit the upper price limit.
Nam Hwa Construction Company, Limited(091590)IlsungConstruction(013360) is also trading at 4,555 won, up 19.87%, while (up 16.33%) and (up 15.33%) are also showing strong gains.TONGYANG PILE, Inc.(228340)
Market observers attribute this to bargain-hunting focused on construction stocks, which had suffered significant losses following the KOSPI’s recent sharp decline. Additionally, expectations for improved earnings in the construction sector are growing, driven by the execution of the supplementary budget in the second half of the year, expanded public infrastructure investment, and anticipation of interest rate cuts.
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