Samsung SDI
This Korean company has jumped 31% this year as it reported better-than-expected operating profit. While first-quarter results may be affected by the coronavirus, the company said earnings will recover in the second quarter. Samsung SDI rose to a record high on Tuesday, with the biggest one-day gain since November 2017, amid foreign-buying of Seoul-traded stocks.
Jiangnan Mould and Plastic Technology Co.
The company supplies parts for Tesla’s Model Y in the North American market and jumped by the 10% daily limit for a second day on Wednesday. It’s the 13th such move this year and extends 2020’s gain to 241%. It is the best performer among stocks listed in Shanghai and Shenzhen, excluding a newly listed bio-pharmaceutical equipment provider.
WEG
The Brazilian maker of electrical motors and machinery has advanced 11% during the virus-related slump in emerging-market equities as HSBC Holdings recommended buying the shares and set a target that’s almost 25% higher than the current price. The stock has been a top performer in the Ibovespa in the past three months after the company reported earnings and announced a plan to set up an engine factory in India.
CATL
The Chinese battery maker announced on Monday it won a two-year contract to supply to Tesla after months of negotiations. The batteries would go into Model 3 cars produced at Tesla’s new factory near Shanghai. The stock is up 40% this year and trades at 61 times its projected earnings over the next 12 months, a record-high valuation.
The MSCI Emerging Markets Index rose, heading for the biggest two-day increase since November 2018.
This article was provided by Bloomberg News.