Samsung Electro-Mechanics hits record high on hopes of demand boost in EVs

Samsung Electro-Mechanics

13/01/2021 01:39

** Shares of Samsung Electro-Mechanics Co Ltd  009150.KS 
rise as much as 11.7% to record high of 215,500 won ($196.68) 
    ** Analysts attribute jump to hopes of increasing demand for
co's components in electric cars and other devices 
    ** Co also supplies smartphone components including camera
modules to sister firm Samsung Electronics Co Ltd  005930.KS  
    ** There has been steady and growing demand for multilayer
ceramic capacitors (MLCC); there have been media reports about
Apple Inc  AAPL.O  building its car, which will require quite a
number of MLCCs - Ko Eui-yeoung, analyst, Hi Investment &
Securities
    ** Hyundai Motor Co  005380.KS  said on Friday it was in
early talks with Apple Inc  AAPL.O , after local media reported
the firms were discussing an electric car and battery tie-up
 urn:newsml:reuters.com:*:nL1N2JJ01P
    ** Reuters reported last month that Apple was moving forward
with autonomous car tech and aimed to produce a passenger
vehicle as early as 2024  urn:newsml:reuters.com:*:nL1N2J12O7
    ** The broader KOSPI market  .KS11  was trading up 0.1% as
of 0121 GMT

    
($1 = 1,095.6700 won)

 (Reporting by Heekyong Yang)
 ((Heekyong.Yang@thomsonreuters.com; +82 2 6936 1470;))