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KOSPI and KOSDAQ Rise, but Electric and Cable Stocks Fall... Daewon Cable and Gaon Cable Weighed Down by Profit-Taking

While the KOSPI and KOSDAQ indices continued their upward trend on the morning of the 7th, electric and cable-related stocks showed mixed movements across indiv

Wooil Shim
Staff Reporter
5 min read
KOSPI and KOSDAQ Rise, but Electric and Cable Stocks Fall... Daewon Cable and Gaon Cable Weighed Down by Profit-Taking
CBC News

While the KOSPI and KOSDAQ indices continued their upward trend on the morning of the 7th, electric and cable-related stocks showed mixed movements across individual stocks. Large-cap stocks such as Samsung Electronics led the index gains, whereas the cable sector saw profit-taking sell-offs, with major stocks broadly showing weakness.

Gaon Cable is trading at 151,800 won, down 2.13% from the previous trading day. It opened at 156,400 won and rose to as high as 160,100 won during the session, but surrendered its gains, falling back to 151,100 won. Trading volume was tallied at 100,650 shares.

Korea Electric Cable is trading at 27,250 won, down 0.55%. It started at 27,900 won in early trading and rose to 28,000 won, but selling pressure increased, pushing it down to 26,900 won. Trading volume was recorded at 410,034 shares.

Daewon Cable, which saw a relatively larger decline, is trading at 14,190 won, down 1.46% from the previous trading day. The intraday high was 14,940 won, the low was 14,100 won, and trading volume reached 2,447,289 shares. Daewon Cable Preferred fell 2.60% to 10,110 won.

Power equipment-related stocks were also generally sluggish. LS ELECTRIC is trading at 199,700 won, down 1.38%. It opened at 204,000 won and rose to 208,500 won during the session, but later fell to 198,300 won. Sun Do Electric dropped 3.52% to 4,380 won, and Kumho Electrical fell 4.39% to 3,265 won.

On the other hand, some electrical and electronics stocks rose, supporting the index trend. Samsung Electronics traded at 235,500 won, up 2.17%, while Samsung Electro-Mechanics and Samsung Electro-Mechanics Preferred rose 2.77% and 1.84%, respectively. Samwha Capacitor (1.84%) and Samwha Electric (1.29%) also gained, showing mixed movements with the cable stocks.

Although the indices have broken free from intraday lows and are tracing an upward curve, electric and cable stocks are failing to fully benefit. While expectations for power grid expansion and increased power demand from AI data centers have recently emerged as a mid- to long-term theme, in today's session, profit-taking from prior gains and changes in supply and demand for individual stocks are interpreted to have dictated the share price movements.

[This article is for informational purposes for investment reference and does not recommend the purchase or sale of any specific stock. Investment decisions and the resulting responsibilities lie solely with the investor. This article was written with AI assistance.]

Wooil Shim
Staff Reporter

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