South Korean shipbuilders are unlikely to benefit from a US investigation into China’s alleged unfair trade practices, say analysts at Nomura.
The Japanese investment bank made the comments after shares in South Korean shipbuilders surged by an average of nearly 10% late last week.
“We believe the rally was largely driven by the Biden administration’s decision to initiate an investigation into China’s unfair trade practices in the shipbuilding, maritime and logistics sectors,” said Nomura analysts Eon Hwang and Chulwoo Park.
