Posco Holdings Inc. shares jumped as much as 24% on Monday, the most on record, extending a July rally on strong quarterly profits and amid frenzied retail buying of stocks related to electric-vehicle batteries.
Shares surged to the highest level since 2007 on broader market expectations for Posco’s battery materials business. Posco was the biggest contributor of gains to the MSCI Asia Pacific Index on Monday. It’s been one of the best gainers in Asia this month, climbing as much as 76%.
The rally also comes after the company notched the biggest quarterly profit in a year.
