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Korean ramen makers’ share prices on rise amid strong exportsBy Ahn Ju-hee
Published : April 5, 2022 - 18:03
Notably, foreign and institutional investors are demonstrating strong interest, according to analysts.
Nongshim shares closed at 306,000 won ($252) apiece on Monday, up 2.68 percent from the previous session. The figure indicates a 9.42 percent rise in only half a month since its price stood at 281,000 won on Mar. 15. Institutional investors have showed a strong presence, net-buying Nongshim shares for five trading sessions in a row since last Tuesday.
Samyang also saw its share price rise by 3.06 percent, closing at 100,100 won on Monday. Institutional investors bought Samyang shares worth a whopping 14.79 billion won for five consecutive days. Foreigners also poured in 2.13 billion won last Friday.
Ottogi shares closed at 459,000 won on Monday, recording a 3.26 percent rise from the previous session, and a 9.80 percent increase from the Mar. 15 session.
According to Daishin Securities, exports of the instant noodles reached 86.2 billion won last month, logging a 30 percent year-on-year growth in exports. By country, exports to China and Thailand saw a notable improvement, each marking a 73 percent and 51 percent increase compared to last year.
By Ahn Ju-hee (firstname.lastname@example.org)
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