Power-related stocks advanced in early trading on November 27 amid renewed expectations for an artificial intelligence (AI) rally.
As of 9:25 a.m., LS ELECTRIC(010120) was trading at 469,000 won, up 20,500 won (4.57%) from the previous session. Shares of Daewon Electric Wire(006340) (4.10%), Bosung Powertec(006910) (3.61%), Hyosung Heavy Industries(298040) (3.57%), Sanil Electric(060240) (3.45%), Gaon Cable(000500) (3.12%), Taihan Cable & Solution(001440) (2.93%), LS(006260) (2.86%), Semyung Electric(017510) (2.75%), Hanjung NCS(107640) (2.61%), and HD Hyundai Electric(267260) (2.13%) also gained.
Investor sentiment toward power stocks improved as expectations grew for a year-end AI rally, after major semiconductor names including Nvidia, AMD, and Micron closed higher in New York trading on November 26 (local time). AI data centers require significantly more reliable and higher levels of electricity than conventional data centers, making power companies longstanding beneficiaries of the AI theme. Anticipation of a Federal Reserve rate cut also appeared to support risk sentiment.
Power-related stocks advanced in early trading on November 27 amid renewed expectations for an artificial intelligence (AI) rally.
As of 9:25 a.m., LS ELECTRIC(010120) was trading at 469,000 won, up 20,500 won (4.57%) from the previous session. Shares of Daewon Electric Wire(006340) (4.10%), Bosung Powertec(006910) (3.61%), Hyosung Heavy Industries(298040) (3.57%), Sanil Electric(060240) (3.45%), Gaon Cable(000500) (3.12%), Taihan Cable & Solution(001440) (2.93%), LS(006260) (2.86%), Semyung Electric(017510) (2.75%), Hanjung NCS(107640) (2.61%), and HD Hyundai Electric(267260) (2.13%) also gained.
Investor sentiment toward power stocks improved as expectations grew for a year-end AI rally, after major semiconductor names including Nvidia, AMD, and Micron closed higher in New York trading on November 26 (local time). AI data centers require significantly more reliable and higher levels of electricity than conventional data centers, making power companies longstanding beneficiaries of the AI theme. Anticipation of a Federal Reserve rate cut also appeared to support risk sentiment.