Before annual shareholder meetings early this year, securities companies expected more electronic voting in relation to the spread of COVID-19. However, it turned out that shareholders’ participation in electronic voting halved compared to last year.In the first quarter of this year, only 0.68 perce
The Export-Import Bank of Korea (KEXIM) announced on May 21 that it successfully raised 700 million Australian dollars (US$460 million) on May 20 by issuing kangaroo bonds, which are Australian dollar-denominated bonds issued by a foreign institution in the Australian market.The kangaroo bonds were
Qraft Technologies announced on May 20 that its Qraft AI Enhanced ETF (QRFT) and Qraft AI Enhanced Momentum ETF (AMOM) posted one-year returns of 15.8 percent and 16.63 percent after their NYSE debut on May 21, 2019, respectively. During the period, the ETFs’ benchmark index S&P500 rose 2.05 percent
The authors are analysts of Shinhan Investment Corp. They can be reached at doyeon@shinhan.com and sungjun.na@shinhan.com, respectively. -- Ed. Momentum expected from supply reduction or demand recoverySemiconductor stocks have underperformed the KOSPI by 16.6%p since March 19 on concerns over a slo
Asiana Airlines have received from investors requests for early redemption of convertible bonds worth 10 billion won. The investors decided to exit early, even though the ailing airline is in talks with HDC Hyundai Industrial Development for its sale.The investors who made early redemption requests
The Korea Financial Investment Association announced on May 18 that the size of the domestic money market fund reached an all-time high of 151,667.9 billion won on May 14.The volume topped 149 trillion won in February this year before the global spread of COVID-19 and then dropped to 119 trillion wo
NH Investment & Securities will participate in a consortium that will invest US$8 billion to acquire a 49 percent stake in the natural gas pipeline held by Abu Dhabi National Oil Corp. (ADNOC) of the United Arab Emirates.The consortium was chosen as a preferred bidder for the project, beating anothe
The Financial Services Commission (FSC) finalized on May 17 its fifth basic plan pertaining to the Creation and Development of Financial Hubs Act, which will cover the period of 2020 to 2022.South Korea’s plan to turn into a Northeast Asian financial hub was initiated in December 2003 by the governm
The author is an analyst of Shinhan Investment Corp. He can be reached at mj1224@shinhan.com. -- Ed. 1Q20 OP falls short of consensus at KRW20.4bn (-59.3% QoQ)Netmarble posted operating profit of KRW20.4bn (-59.3% QoQ) on sales of KRW532.9bn (-3.4% QoQ) for 1Q20, falling short of the consensus estim
Software companies’ stock prices are rising over and over. During the May 14 trading session, Kakao’s market cap exceeded that of Hyundai Motor Co. for the first time to rank ninth.Specifically, the stock price of Kakao rose 3.93 percent to 225,000 won per share and its market cap reached 19,590.7 b
Hyundai Motor and Kia Motors are making large-scale investments in electrification of vehicles. At the end of 2019, Hyundai Motor announced its “2025 Strategy” to investors. The automaker pledged to invest 10 trillion won in the electric vehicle sector over the next six years. The figure represented
The Korea Financial Investment Association announced on May 13 that South Korean investors’ overseas real estate funds totaled 57,915.3 billion won on May 11 and the value increased more than 20-fold in 10 years.South Korean institutional investors have continued to increase their overseas real esta
The South Korean government put its bond market stabilization fund into operation last month and the 20 trillion won fund’s corporate bond purchase stood at just 620 billion won as of May 13. In addition, the actual approval rate of the government’s P-CBO program for companies with low credit rating
The Financial Supervisory Service announced on May 11 that foreign investors’ net stock selling in South Korea totaled 5,393 billion won last month after the amount reached 3,225 billion won in February and 13,450 billion won in March.Specifically, European investors’ net selling volume amounted to
Unlisted stock trading services using blockchain technology are in full swing. Based on the government’s pilot project and a financial regulation sandbox, the financial sector including KOSCOM and blockchain companies is launching services one after another. Many expert say that that blockchains whe
Korea Securities Depository announced on May 6 that South Korean individual investors bought and sold American stocks worth US$579.08 million on daily average on April 30, May 1 and May 4, the three trading days in the recent holiday period. The value is 13.5 percent more than last month’s daily ave
An increasing number of listed companies are conducting stock buyback in order to prop up their stock prices and regain investors’ trust after the outbreak of COVID-19.NH Investment & Securities announced on May 5 that a total of 561 public notices were made on stock buyback for the first four month
Fund data provider FnGuide said on May 5 that stock funds investing at least one billion won in Brazil posted an average rate of return of negative 8.73 percent last month, when the average rate of return of stock funds for overseas investment was positive 7.91 percent. Besides, the former average a
The Korea International Trade Association (KITA) is recruiting companies to participate in the “Lotte Mart Testbed in Jakarta, Indonesia,” the first overseas testbed project for Korean startups looking to expand into overseas.The startups selected for the testbed will be able to apply their technolo
The Korea Composite Stock Price Index (KOSPI) fell 2.68 percent to close at 1,895.37 on May 4. Individual investors bought stocks worth 1.7 trillion won or so to post the largest net buy since 1998 whereas foreign and institutional investors net-sold stocks worth 940 billion won and 800 billion won,