LS ELECTRIC plunges 14% as power equipment stocks tumble in premarket [Stocks Now]

[Financial News] Major South Korean power equipment stocks are seeing double-digit declines in NextTrade (NXT) premarket trading.
As of 8:28 a.m. on the 6th, LS ELECTRIC was trading at 111,100 won, down 18,700 won (14.41%) from the previous session's closing price. It fell as low as 107,000 won intraday before recouping some of its losses.
Hyosung Heavy Industries was down 217,000 won (12.12%) at 1,574,000 won. Its intraday low was 1,440,000 won. HD Hyundai Electric was also trading at 355,500 won, down 46,000 won (11.46%). At one point during the session, it fell to 342,500 won.
The declines are believed to reflect a concurrent plunge in power infrastructure stocks on the New York stock market overnight. GE Vernova fell around 7%, while U.S. power generator Vistra dropped around 6%. Amid a view that expectations for increased investment in artificial intelligence (AI) data centers had already been substantially priced into share prices, the burden of power costs and the possibility of related regulation weighed on investor sentiment.
After falling sharply in the regular session the previous day, domestic power equipment stocks are extending their losses in premarket trading. With share prices having surged sharply over a short period recently, weakness among their U.S. peers is seen as having prompted profit-taking.

[email protected] Lee Jeong-hwa Reporter