And another piece of market news that is very interesting:
0345 GMT - LG Chem could get a valuation boost if it spins off its battery division, Daiwa Capital says. The investment bank says LG Chem has been trading 20%-30% cheaper than local electric-vehicle battery peers due to different business structures and the spin-off could remove its long-standing valuation discount. Daiwa thinks the separation of the battery unit could happen in 2H. Daiwa upgrades its rating on LG Chem from outperform to buy and raises its target price by 24% to KRW470,000.
Shares are up 1.5% at KRW414,000.([email protected])
GXY Price at posting:
$1.10 Sentiment: None Disclosure: Held
