Hanwha Ocean's stock price is showing a sharp decline as the dual indices' plunge and the setback of missing out on a Canadian submarine order compound negative pressures. Market attention is now focused on whether the stock can defend the 80,000-won level, a key short-term support line.

Sharp Decline for Second Consecutive Day... Concerns Over Defending the 80,000-Won Level On January 8, based on KRX data, Hanwha Ocean (042660) closed at 82,000 won, down 7,800 won (8.69%) from the previous trading day. This follows a plunge in the 20% range the prior day, with investor sentiment significantly shrinking due to consecutive days of steep losses. Although the closing price remained above the 80,000-won level on this day, given the magnitude of the decline, stock market attention is closely focused on whether the 80,000-won level can properly serve as a short-term support line going forward.

Stock Market Plunges Across the Board... Selling Pressure Expands on Shipbuilding Stocks The overall decline in the domestic stock market on this day also acted as a negative factor. The KOSPI fell by 409.52 points (5.34%) from the previous trading day to 7,246.79, while the KOSDAQ dropped by 46.23 points (5.56%) to 785.00, with both indices declining more than 5%. As risk-averse sentiment rapidly strengthened across the broader market, selling pressure on shipbuilding stocks also expanded.

Missed Order vs. Prior Upward Trend Earlier, Hanwha Ocean began its sharp decline when news broke on January 7 that it had missed out on the Canadian submarine order. However, prior to this plunge, the stock had shown a strong upward trend for four consecutive trading days from January 1 to January 6.

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