최초입력 2025.07.02 10:43:30
HD Hyundai’s construction units saw a surge in their stocks after news broke of a merger, while South Korean battery stocks fell in tandem with a sharp fall in Tesla shares amid political tensions in the United States.
HD Hyundai Construction Equipment Co. and HD Hyundai Infracore Co. shares surged in early trading after the two HD Hyundai subsidiaries announced a merger aimed at streamlining operations and boosting performance.
HD Hyundai Construction Equipment shares were trading at 85,900 won ($63.18) a share, up 13.77 percent from the previous session’s close, after briefly hitting the 86,900-won mark just after the market opened. HD Hyundai Infracore shares also climbed, rising 4.48 percent.
The rally follows the previous day’s after-hours announcement that the two construction machinery companies would merge. The combined entity is slated for official launch on January 1st, 2026, pending regulatory approvals and shareholder consent.
Investor enthusiasm is being driven by expectations of cost savings and operational benefits, which could enhance profitability and competitiveness in the global construction equipment market.
Secondary battery stocks slumped across the board, however, weighed down by a sharp overnight drop in Tesla’s share price alongside rising tensions between U.S. President Donald Trump and Tesla CEO Elon Musk.
Sector leader LG Energy Solution, Ltd.’s shares were trading at 293,500 won a share, down 1.34 percent. Other major players also faced losses, with Samsung SDI Co. shares falling 1.01 percent, for example. On the KOSDAQ, the decline extended to growth-oriented battery stocks with those for EcoPro down 1.21 percent.
The sell-off follows a 5.3 percent plunge in Tesla shares overnight, and they closed at $300.71. The drop pushed Tesla’s market capitalization below the $1 trillion threshold to $968.6 billion.
The slump comes as Trump threatened on the Truth Social platform to cut off the billions of dollars in subsidies that Elon Musk’s companies receive from the federal government.
HD Hyundai Construction Equipment Co. shares closed at 87,000 won, while LG Energy Solution shares closed at 302,500 won.
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