KCTech surges for second straight day amid strength in semiconductor equipment stocks, up 12%... [Stock NOW]

[Financial News] KCTech is surging for a second consecutive day as expectations for earnings growth persist amid strength in semiconductor equipment stocks and increased memory investment. As of 9:29 a.m. on the 7th, KCTech was trading at 120,700 won, up 13,300 won (12.38%) from the previous trading day.
It rose as high as 124,800 won intraday, coming close to its 52-week high. The stock continued its upward trend after surging by 143,000 won (15.54%) the previous day.
Trading is also brisk. Current volume stands at 419,660 shares, or 64.5% of the 650,287 shares traded over the full previous session. The share price, which stood at 73,400 won on the 18th of last month, has risen about 64.4% through today.
KCTech's strength is underpinned by expectations of rising demand for semiconductor equipment as Samsung Electronics Co., Ltd. and SK hynix expand memory capacity.
KCTech supplies CMP and cleaning equipment used in the front-end semiconductor manufacturing process, as well as CMP slurry. It is therefore seen as a potential beneficiary, with an improving memory market and increased capital investment by customers possibly leading to earnings growth. 
Expanded supplies of CMP equipment and new cleaning equipment, particularly supercritical cleaning equipment, were forecast to drive earnings growth going forward. A target price of 127,000 won was set at the time.
[email protected] Kang Jung-mo Reporter