China, Korea Tech Stocks Rally After Superconductor Breakthrough Buzz

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Excitement about the superconductor technology grew further after a video of a team of Chinese scientists replicating the Korean team’s findings went viral. Photo: Bloomberg

(Bloomberg) — Claims about a breakthrough in superconductor technology that could revolutionize the power, transportation and chip industries have sparked surges in some Korean and Chinese stocks even as scientists remain dubious.

Small caps including Duksung Co. Ltd., Sunam Co. Ltd. and Shinsung Delta Tech Co. Ltd. jumped by their 30% daily limits for a second-straight day in Seoul on Wednesday. In China, Jiangsu Fasten Co. Ltd. and Henan Zhongfu Industry Co. Ltd. climbed by their 10% limits for a second session.