[04.05.11] SM Stocks Driven Up by Girls' Generation's "Mr Taxi"

SM Entertainment has recorded a second day of strong trading in the markets after having weakened in the aftermath of the devastating Japanese earthquake last month. On April 5th, SM's shares rose 6.35% (1150 KRW) and recorded a high of 19,250 KRW by the time the markets closed. Volume of trading today was at 1,270,000 shares, double the figures from the day before at 740,000. The influx of purchases were noted at Samsung Securities, Kiwoom Securities, Daewoo Securities, NH Investment & Securities. The Japanese earthquake on March 11th raised fears that the Hallyu could be severely dented, and SM shares had plummeted in value from 20,000 KRW to 16,000 KRW. Having shown little signs of movement since then, the share prices rose by 4% yesterday and 6% today. The recovery of SM's market value is accredited to the announcement of Girls' Generation's new album, "Mr. Taxi" According to SM Japan, HMV and other sites, Girls' Generation's new Japanese album "Mr Taxi" is scheduled for release on April 27th. Translated by: oniontaker@soshified.com Edited by: shizzles9@soshified.com Source: fnnews Have a news item that you think Soshified should know about? E-mail us at tip@soshified.com. Follow us on Twitter: http://twitter.com/soshified for the latest on Girls' Generation.