On November 3, during the midterm elections, the Democratic Party is expected to secure a majority in the U.S. House of Representatives, leading to a surge in domestic battery and solar stocks driven by optimism surrounding green energy policies.
According to the Korea Exchange, as of 1:23 PM, Samsung SDI was trading at 509,000 won, up 4.20% from the previous trading day. Despite starting the day at 462,000 won, which was a 5% drop from the previous close amid a decline in the KOSPI, the stock rebounded in the afternoon.
At the same time, LG Energy Solution was trading at 339,500 won, a 0.59% increase from the prior day. Other companies such as Posco Future M (+3.05%) and L&F (+5.68%) also showed strong performance.
Stocks related to solar energy, seen as beneficiaries of Democratic policies, also experienced significant gains. Hanwha Solutions rose by 15.89%, OCI Holdings by 6.35%, and HD Hyundai Energy Solutions by 8.27%, contrasting with the KOSPI's decline of 3.52%.
CNN and NBC forecast that Democratic candidates will win a majority of the 435 seats in the House of Representatives, with 218 seats needed for control. If successful, this would mark the first time since 2022 that the Democrats regain power in the House.
Analysts suggest that the Democratic victory could benefit sectors such as solar energy, energy storage systems (ESS), and batteries, as well as industries critical for countering China, including artificial intelligence, semiconductors, and defense.
* This article has been translated by AI.
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