Seoul, September 25
South Korean lithium stocks gained on Thursday after Lithium Americas Corp. shares surged on Wall Street, as per a report by Pulse, the English service of Maeil Business Newspaper Korea.
Hydro Lithium Inc. was trading at 2,585 won (USD 1.85) as of 9:28 a.m., up 9.53 per cent from the previous session. Lithium-for-earth Inc. shares rose 5.48 per cent to 1,310 won.
The rally followed a 95.77 per cent jump in Lithium Americas shares the previous day in New York. Lithium Americas operates the Thacker Pass lithium project, the largest lithium mine development in the United States. The project has drawn bipartisan support for building a domestic lithium supply chain and reducing reliance on China.
Lithium Americas shares soared after reports that the Trump administration is seeking up to a 10 per cent stake in the company.
Mirae Asset Securities analyst Seo Sang-young said the stake demand suggests the U.S. government intends to directly participate in strategically important raw materials, which fueled investor expectations and the sharp rally.
Defense stocks also extended gains for a second session following US President Trump's tough remarks on Russia.
Hanwha Aerospace Co. shares were up 2.93 per cent at 1.089 million won as of 9:18 a.m., Poongsan Corp. shares rose 4 per cent, Hyundai-Rotem Co. shares added 0.88 per cent, Korea Aerospace Industries Ltd. shares gained 1.93 per cent, and LIG Nex1 Co. shares advanced 3.63 per cent.
During a meeting with Ukrainian President Volodymyr Zelensky on Tuesday (local time), Trump was asked whether North Atlantic Treaty Organisation (NATO) countries should shoot down Russian aircraft violating their airspace and said they should.
He also wrote on social media that with additional European and NATO support, Ukraine could get back "the original borders from where this war started." The remarks lifted expectations of stronger European rearmament and a prolonged war, driving defense shares higher.
Separately, U.S. Secretary of State Marco Rubio reportedly "reiterated Trump's call for the killing to stop" in the Ukraine war to Russian Foreign Minister Sergey Lavrov at the United Nations General Assembly on Wednesday, urging "meaningful steps."
On the same day, PearlAbyss Corp. stock also rallied after confirming the release date of its new title.
The shares were up 7.86 per cent at 37,050 won as of 9:21 a.m. The company announced during Sony Interactive Entertainment LLC's "State of Play" showcase that its upcoming open-world action-adventure game "Crimson Desert" will launch on March 19th, 2026, for PC (Steam), Mac, PlayStation 5, and Xbox Series X|S.
- ANI
Reader Comments
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.