Korea’s electric cable, power stocks surge on U.S. tech rally

[Courtesy of Taihan Cable & Solution Co.]

South Korean electric cables and power-generation stocks soared on Thursday morning as big tech stocks in the United States gained ground overnight.

As of 10:47 a.m., shares of Daewon Cable Co. were trading at 3,460 won ($2.53), up 8.81 percent from the previous session.

Shares of KBI Metal Co. soared 17.44 percent to 2,660 won while those of Gaon Cable Co. increased 4.41 percent, and Iljin Electric Co. 4.14 percent.

Shares of U.S. chip giant Nvidia Corp surged 12.81 percent, raising expectations for AI-driven tech demand.

Nexon Games Corp., in the meantime, saw its shares rise to a new 52-week high on the prospect of continued success for its new game, “The First Descendant.”

Shares of Nexon were trading 25 percent higher at 29,750 won as of 11:50 a.m. on Thursday.