KB Financial Soars (KB)
Shares of KB Financial Group (NYSE: KB) soared today after falling sharply yesterday when North Korea fired artillery rounds at a South Korean island, killing two South Korean soliders.
KB Financial Group is based in Seoul and operates as the holding company for Kookmin Bank. Yesterday, investors dumped shares of any and every South Korean stock on fears that conflict between North and South Korea could escalate into full-blown war.
Investors who took the plunge and bought KB Financial were rewarded, with shares rising 9.36% today to $47.07.
Next time North Korea decides to do some sabre rattling, look to pick up some KB shares after investors foolishly dump them.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.