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[Alpha Biz=(Chicago) Reporter Paul Lee] The Korea Exchange announced on the 6th that it will designate target holdings preferred stocks, whose stock prices have soared recently, as investment risk stocks.
As a result, trading of Daesang Holdings' preferred stocks will be suspended for one day on the 7th.
Daesang Holdings' preferred shares hit the upper limit for seven trading days since the 27th of last month, marking the longest trading days based on preferred shares since June 15, 2015, when the price limit expanded to 30%.
As Daesang Holdings' preferred stocks surged earlier, the exchange designated the stocks as investment warning stocks and suspended trading for a day on the 4th.
Daesang Holdings Preferred Shares, whose trading resumed the previous day, closed at the upper limit for two consecutive days.
Investment-risk stocks will be suspended for one day on the day of designation and may be suspended for another trading day if the stock price is three consecutive days higher than that of the day before the designated day.
According to the Korea Exchange, Dongbu Construction's preferred shares in 2015 and Doosan Fuel Cell 2 Preferred Stock B and Solus Advanced Materials 2 Preferred Stock B hit the upper limit for six consecutive trading days in 2019, respectively, continuing the upper limit for the longest trading days after Daesang Holdings' preferred shares.
Daesang Holdings' preferred shares continued to soar as they were tied up as "Han Dong-hoon theme stocks" after photos of Justice Minister Han Dong-hoon and actor Lee Jung-jae, the lover of Daesang Holdings Vice Chairman Lim Se-ryeong, were posted on Internet communities.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
