Trump Endorsement Lifts South Korea's Monami 60% to 19-Month High

Shares of South Korean stationery producer Monami Co. surged as much as 60% on Wednesday after former U.S. President Donald Trump publicly praised the company, according to the South China Morning Post. The rally drove the stock to its highest level in 19 months and boosted trading volumes sharply on South Korea’s main exchange. Market participants attributed the abrupt spike to retail investors reacting to Trump’s remarks. Monami, known for its ballpoint pens, had not issued any material disclosures before the price move, and no fundamental changes in earnings guidance or strategy were announced. Analysts cautioned that the gains could prove volatile if sentiment fades, noting that Monami’s core business remains exposed to sluggish demand for traditional stationery products. The company’s shares had been largely flat this year until Trump’s endorsement.