Hyundai E&C gains on expectations of MSCI inclusion in February

(Hyundai E&C)

Hyundai Engineering and Construction Co. (Hyundai E&C) posted sharp gains on Friday morning amid growing expectations that it will be included in the upcoming regular review by Morgan Stanley Capital International (MSCI) in February.

Shares of Hyundai E&C were trading at 118,500 won ($80.7) as of 9:27 a.m. on Friday, up 13.94 percent from the previous session.

The rally is interpreted as being driven by investor optimism following securities industry forecasts that the company will be added to the MSCI index in the regular review, scheduled to be announced on February 11.

“The inclusion and exclusion of stocks in the February MSCI review are determined based on 10 trading days after the 16th of this month,” said Ko Kyung-beom, an analyst at Yuanta Securities. “Hyundai E&C meets the inclusion criteria on all evaluation dates except January 22, so we rate its likelihood of inclusion as high.”

Separately, UNID, a manufacturer of basic inorganic chemical products, climbed 8.89 percent to 80,800 won as of 9:24 a.m. on Friday, driven by a sharp rise in chlorine prices in China.

As of January 21, chlorine prices in China’s Jiangsu region stood at 300 yuan per ton, triple the level of 100 yuan recorded at the end of December 2025.

Buying interest surged on expectations that higher chlorine prices will improve the performance of UNID’s Chinese subsidiary.

In a report released on Friday, Yoon Jae-sung, an analyst at Hana Securities Co., noted that last year, operating profit at UNID’s Chinese subsidiary fell 9 percent on year as losses from chlorine widened due to sluggish downstream PVC market conditions and low operating rates, despite rising prices for potassium hydroxide and potassium carbonate.

“However, the recent sharp rise in chlorine prices has made a reduction in losses increasingly visible,” he said.

Hanwha Ocean, in the meantime, rose over 6 percent on Friday morning, fueled by expectations that it could secure a Canadian submarine contract worth up to 60 trillion won.

Hanwha Ocean shares were trading at 146,700 won as of 9:35 a.m., up 6.54 percent from the previous session.

Recently, Hanwha Ocean has been making an all-out effort to win the Canadian Patrol Submarine Project (CPSP).

Earlier, Hanwha Ocean established a Canadian subsidiary, Hanwha Defence Canada, and appointed Glenn Copeland – formerly affiliated with the Canadian Navy and Lockheed Martin – as its managing director and CEO to strengthen its bid.

Hanwha Ocean also signed a strategic memorandum of understanding with Canadian energy developer Fermeuse Energy to jointly pursue a liquefied natural gas (LNG) development project in the Newfoundland and Labrador region of Canada.

Regarding the MOU, analysts interpret it as part of Hanwha Ocean’s efforts to strengthen energy cooperation in alignment with Canada’s Arctic and multi-region strategy, further supporting its bid for the CPSP project.

Shares of Hyundai E&C closed at 109,200 won, up 5.00 percent from the previous session. UNID shares ended at 77,000 won and Hanwha Ocean at 140,300 won.