As a nationwide heat wave and tropical nights persist, shares of air conditioning-related companies Winix and Paseco are experiencing significant gains.
According to the Korea Exchange, as of 2:20 PM, Winix's stock price rose by 875 won (18.13%) to 5,700 won. Paseco's shares increased by 860 won (13.01%) to 7,470 won.
Winix initially surged to the daily price limit of 6,270 won before retracting some gains, yet it still maintains a double-digit increase.
The rise in stock prices is attributed to expectations of increased sales for air conditioning and dehumidifying appliances amid record heat and high humidity across the country. Winix holds a significant market share in air purifiers and dehumidifiers, highlighting its potential benefits during the summer peak season.
Paseco is also seeing buying interest due to anticipated sales growth for seasonal products like window air conditioners and dehumidifiers. The demand for cooling appliances is expected to improve performance during the summer peak season.
Additionally, news of Typhoon Dolphin approaching has heightened interest in related stocks. According to the Korea Meteorological Administration, there is a possibility that the heat will intensify or be accompanied by heavy rainfall, depending on the typhoon's path.
Market analysts expect that if the extreme heat and high humidity continue, the demand for cooling and dehumidifying appliances will increase.
* This article has been translated by AI.
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