The share prices of Korea's major chemical companies such as LG Chem, Lotte Chemical, and Hanwha Chemical rose sharply amid forecast that their business environment would improve.
On March 28, the chemical industry index closed at 5,140.42, up 1.96 percent or 98.59 points from the previous day.
The market leader LG Chem jumped 3.54 percent or 10,000 won to 292,500 won. Other major chemical stocks such as Hanwha Chemical, Hyosung, Aekyung Petrochemical, and Lotte Chemical also rose 6.56 percent, 3.98 percent, 3.56 percent and 2.86 percent, respectively.
Foreign investors net-bought 26.5 billion won worth of Hanwha Chemical shares, making it the second top pick behind SK Hynix (26.6 billion won).
Kwak Jin-hee, analyst at Eugene Investment & Securities, said, "Foreign investors are turning their yes toward chemical stocks that have remained undervalued during the recent IT-led stock market rally."
Analysts expected the chemical companies which enjoyed record-high results last year to continue to enjoy strong performance this year.