Korean construction stocks rise on nearing US investment deal
Korean construction stocks have been gaining ground on expectations that nuclear and other power plant projects could be among the first to get underway as part of a $350 billion U.S. investment plan, boosting hopes for new construction orders. The first project under the plan could take shape as early as this week, with Korea and the United States nearing an agreement. At a ruling…
Korean construction stocks have surged on anticipations that U.S. investment plans may soon lead to the commencement of nuclear and power plant projects. The prospect of early project execution has spurred optimism among investors. According to a source, the first project under the $350 billion U.S. investment plan could commence as early as this week.
This development stems from the Ministry of Trade, Industry and Resources' identification of a gas-fired combined-cycle power plant in Encinal, Texas, as a potential inaugural project under the plan. Recent reports from The Wall Street Journal suggest that Seoul and Washington are inching towards an agreement on an investment of over $100 billion, which includes eight nuclear power plants and natural gas projects.
The positive sentiment surrounding the sector has propelled the KRX Construction Index to a remarkable 9.44 percent gain from September 1 to 11, marking the highest among the Korea Exchange’s sector indexes and significantly surpassing the KOSPI's 1.32 percent increase over the same period. The index encompasses 16 companies, including Hy.
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- Korean construction stocks rise on nearing US investment deal koreatimes.co.kr
