Stock Markets News
South Korean battery stocks jump as Democrats win U.S. midterms
South Korean battery stocks jump as Democrats win U.S. midterms
South Korean battery manufacturers saw their shares climb on Wednesday after the Democratic Party secured control of both the House and Senate in U.S. midterm elections.
LG Energy Solution rose more than 5%, while Samsung SDI surged 11.6%. SK Innovation jumped nearly 4%.
Battery materials producers also posted gains, with POSCO Holdings (KS:005490) advancing 3.6% and LG Chem (KS:051910) gaining 4%.
Market participants anticipate the Democratic majority will support climate-friendly policies, including measures that benefit electric vehicles.
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