Han Sung Corp, Monami Rally Over 25% in Two Days on Retail 'Patriotic Buying' Wave

According to Newsis, shares of Han Sung Corp and Monami surged on July 9-10 as retail investors engaged in "patriotic buying" to prevent the stationery and seafood processing companies from delisting. Han Sung's stock hit the daily price limit on consecutive days, while Monami jumped 24.69% and 25.66% respectively. Both firms faced delisting risk after the Korea Exchange raised the minimum market cap requirement for KOSPI listings to 30 billion won in July. Han Sung's previous market cap stood at 26.1 billion won, and Monami's at 22.7 billion won. The buying surge was triggered by news that Han Sung had long sponsored peace concerts for UN veterans, sparking online calls for investors to protect the "patriotic company." Monami, historically popular as a patriotic stock during Japan boycott movements, also benefited from similar sentiment among retail investors.
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