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News Topical, Digital Desk : A comment by US President Donald Trump sent a South Korean stock soaring 60% in two days. This is the case of pen maker MonAmi Co., whose shares saw a huge surge on Tuesday and Wednesday.
On Tuesday (August 26), the company's shares rose 30%, while on Wednesday (August 27) this rise reached 24%. In two days of gains, the stock jumped more than 60% and reached an all-time high of 19 months.
How did this rise start? On Monday, President Trump had his first face-to-face meeting with his South Korean chief Lee Jae Myung. During this, Trump's eyes fell on a brown pen in Lee's hand. Trump asked many questions about the pen and also showed it to the people present in the meeting. According to the local newspaper Donga Ilbo, the nib of this pen was made by MonAmi, while its design was prepared by Seoul-based company Zenyle. The pen had a traditional Korean phoenix engraved on it. In the video, Trump praised the pen and said, "This pen is very good, its writing is beautiful and the thickness is also right." He jokingly told his colleagues, "Hold this pen for me." After this, Lee Myung gifted the pen to Trump and said, "This will prove to be better for your difficult signature." Zenyle confirmed on its website that this pen was made on the request of the President's Office. The company has currently stopped its sale due to increased demand. However, the pen used by President Lee is not available for sale.
Other results of the meeting In this dialogue, both the leaders agreed to maintain the recent tariff agreement. Along with this, there was also talk of promoting cooperation in North Korea, collective security and shipbuilding sector. Apart from this, Korean Airlines announced plans to buy more than 100 Boeing jets. Although MonAmi's stock came down from the initial surge on Wednesday, it still maintained a gain of more than 17% throughout the day.
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