Battery ETFs among top performers this month: market data

SEOUL, Oct. 9 (Yonhap) -- Asset managers have seen a surge in demand for secondary battery ETFs this month, with eight of the top 10 performing listed ETFs linked to the industry, data from the Korea Exchange (KRX) reveals. The KODEX Secondary Battery Industry Leverage ETF, managed by Samsung Asset Management Co., delivered the highest returns at 19.94% through Thursday, followed by the TIGER KRX Second Battery Top10 Leverage ETF, managed by Mirae Asset Global Investments Co., which gained 18.45%.

Analysts attribute the popularity of battery-related ETFs to the anticipated growth of the artificial intelligence (AI) sector, which is expected to drive demand for energy storage systems (ESS). Kim Gwi-yeon, an analyst at Daishin Securities Co., maintains an overweight rating on the sector, expecting order momentum to continue into the year's end, followed by share price gains next year as ESS businesses improve profitability.