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Covid Drug, EV Batteries Were Winning Korean Stock Bets in 2020
Bloomberg
12/30/2020
The 1,600% jump in a Covid-19 drugmaker loved by retail traders and big gains for electric-vehicle battery suppliers were among the top highlights this year in South Korea’s stock market.
Shin Poong Pharmaceutical Co., which is developing its malaria drug Pyramax as a treatment for the coronavirus, rose more than any other Korean stock. Its 16-fold gain also topped the 1,573-member MSCI Asia Pacific Index.
With Tesla Inc.’s S&P 500-best performance one of the other major stories of 2020, investors sought out EV plays worldwide. Tesla’s top battery supplier LG Chem Ltd. climbed 160%, the second-largest contributor to gains in South Korea’s main stock index. ....

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