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Hanwha Ocean Shares Plunge 6%... Will It Defend the '80,000 Ocean' Level?

Hanwha Ocean (042660) plunged in the afternoon session on the 2nd, and market attention is focused on whether it can defend the '80,000 Ocean' level (a share price in the 80,000-won range). As of 1:12 p.m. that day, Hanwha Ocean's stock was trading at 82,600 won, down 5,300 won (-6.03%) from the pr

Oseong Kwon
Staff Reporter
3 min read
Hanwha Ocean Shares Plunge 6%... Will It Defend the '80,000 Ocean' Level?
CBC News

Hanwha Ocean (042660) plunged in the afternoon session on the 2nd, and market attention is focused on whether it can defend the '80,000 Ocean' level (a share price in the 80,000-won range).

As of 1:12 p.m. that day, Hanwha Ocean's stock was trading at 82,600 won, down 5,300 won (-6.03%) from the previous trading day. The stock has been on a continuous downward trend since August 28, and attention is on whether it can narrow its losses late in the session and hold the 80,000-won line.

The broader market is also weak. At the same time, the KOSPI was recorded at 6,571.89, down 263.91 points (-3.86%) from the previous trading day, while the KOSDAQ fell 14.48 points (-1.76%) to 806.77.

Meanwhile, through a trade agreement last year, South Korea and the United States agreed that Korea would pursue a total of $350 billion in investment in the U.S., of which $150 billion was allocated to shipbuilding industry cooperation. Attention is now focused on how future Korea-U.S. shipbuilding cooperation will affect the direction of domestic shipbuilding stocks.

[The stock market can fluctuate due to various domestic and international variables, so investors should review relevant information comprehensively and make careful decisions. Please note that responsibility for all investments lies with the investor.]

Oseong Kwon
Staff Reporter

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