‘Battery Loss’ SK Ino’s stock price recovers… Included by foreigners and institutions

SK headquarters in Seorin-dong, Jongno-gu, Seoul. 2021.2.11/News1 © News1 Reporter Park Jung-ho

SK Innovation’s stock price, which fell on the 15th after losing in a battery lawsuit against LG Chem, recovered to the level before losing in two days.

According to the Korea Exchange on the 17th, SK Innovation closed the transaction at 297,000 won, up 12,500 won (4.39%) from the previous day. Earlier, on the 10th (local time), the US International Trade Commission (ITC) lost more than 4% of the news of the battery lawsuit and rebounded slightly the day before.

The stock price recovery was driven by foreign and institutional buying. On this day, SK Innovation was ranked in the top 3 (25.3 billion won) in net buying of KOSPI by foreigners. The institution also included 39.1 billion won. It is the second most bought stock after LG Electronics (66.4 billion won). It is interpreted that the rise in international oil prices also played a part. SK Innovation’s main business is oil refining.

Lee Ji-yeon, a researcher at Shinyoung Securities, said, “Considering SK’s high willingness to operate the US plant, the possibility of an agreement between the two companies has increased,” he said.

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