Japan has reported a 1.5% economic growth rate in the second quarter, significantly outpacing South Korea’s 0.6%. Despite the global economic slowdown, Japan continues its growth streak for the third consecutive quarter. Its stock market has also reached its highest level in 33 years, indicating a r
During the middle of July, South Korea witnessed a consecutive two-month rise in its foreign exchange reserves, reflecting an increase of US$350 million. This surge can be attributed to the upward valuation of foreign currency assets against the backdrop of a weakened U.S. dollar, particularly again
It has been found that the foreign ownership percentage of top market capitalization stocks has increased this year. Notably, foreign investors have extended their financial commitments into the domains of defense and construction.According to data released by the Korea Exchange on Aug. 2, the numbe
Korea’s largest shipping company HMM has acquired a second-hand large bulk carrier on the M&A market. The shipping company has started to diversify its business with its record operating profits in 2022, analysts say.Korean shipping company HMM acquired a Newcastlemax dry bulk carrier from Germany’s
The market capitalization of conglomerate subsidiaries listed on the KOSPI has shown a sharp increase of approximately 350 trillion won (US$271.21 billion) compared to the beginning of the year. Particularly, 17 companies affiliated with Samsung Group recorded the largest increase, with their combin
The author is an analyst for NH Investment & Securities. He can be reached at pk.park@nhqv.com -- Ed.Yuhan posted 2Q23 consolidated OP of W27.1bn, significantly beating consensus. Earnings should continue to improve on: 1) the likely listing of Lazertinib as a first-line treatment for NSCLC in Korea
Korea’s export volume index turned for a rise for the first time in four months. The country’s net terms of trade index also rebounded for the first time in 27 months as a drop in its imports eclipsed a drop in its exports.According to the Trade Index and Terms of Trade for June 2023 (in U.S. dollar
Continuing their struggle, both Samsung Electronics and SK hynix faced losses in the second quarter, following their challenging performance in the first quarter. The cumulative deficit for both companies in the first half of this year reached a substantial figure, nearly approaching 15 trillion won
Foreign investors showed a substantial net sell-off of approximately 1.35 trillion won (US$1.06 billion) in the equity market. Despite the foreign selling pressure, the market experienced a slight uptick, primarily driven by robust net buying from individual investors.According to Korea Exchange on
Aiitone (CEO Jin Yeop Lee, 230980), a KOSDAQ-listed company, recently successfully completed the performance test of their block chain acceleration engine.It was announced on the 19th that Aiitone, a company specializing in web 3.0 technology, recently requested the Korea Telecommunications Technolo
The author is an analyst for Shinhan Securities. He can be reached at jk.ahn@shinhan.com -- Ed.July MPB meeting confirms BOK is in a bind, unable to raise or cut ratesThe Bank of Korea (BOK) unanimously decided to keep the base rate unchanged at 3.50% at the July Monetary Policy Board (MPB) meeting.
As the KOSPI recovered to the 2,600 range, the average daily short-selling transaction amount of Korean stocks increased 25 percent in July, according the Korea Exchange.According to the Korea Exchange on July 16, the average daily short-selling transaction amount stood at 553.9 billion won (US$437.
Korea has ranked third in Asia in the global biopharma resilience index rankings in 2023. This represented a drop of two notches from 2021 when the COVID-19 pandemic was rampant. In the global rankings of 22 countries, Korea dropped sharply from 7th place to 12th over the same period. The decline wa
South Korea’s nominal gross domestic product (GDP) is provisionally ranked 13th in the world. It has dropped out of the global top 10.According to statistics released by the Bank of Korea (BOK) on July 12, South Korea’s nominal GDP at market exchange rates was US$1.6732 trillion in 2022. It ranked 1
The author is an analyst for NH Investment & Securities. He can be reached at minjae.lee@nhqv.com -- Ed.In the wake of the release of the results of an investigation into GS E&C's Geomdan (Incheon) apartment complex collapse, major construction players’ share prices have been pushed down. With t
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.The Fed’s June pause was a move to slow hikes down to 12.5bp. A July FOMC rate hike seems inevitable. However, the July hike may be the last given the steep decline in core service prices and shrinki
Hyundai Wia successfully conducted Korea’s first anti-drone system (ADS) hard kill test at a firing range in North Chungcheong Province on July 5.A hard kill is an active countermeasure that combines a soft kill, which interferes with drone radio waves, with directly firing at the target.The ADS rol
Mirae Asset Global Investments announced on July 6 that Global X Nasdaq 100 Covered Call (QYLD), the flagship product of its American ETF subsidiary Global X, has exceeded 10 trillion won in net assets. The QYLD, listed on the New York Stock Exchange, is an ETF that utilizes a covered call strategy
Korea’s foreign exchange reserves edged up in June, turning to an increase in a month. This was due to the weakening of the U.S. dollar.According to “Foreign Exchange Reserves at the End of June” data released by the Bank of Korea (BOK) on July 5, the country’s foreign exchange reserves stood at US$
The author is an analyst for Shinhan Securities. He can be reached at jk.ahn@shinhan.com -- Ed.BOK in a bind, unable to raise or cut ratesConsumer price inflation slowed down to 2.7% YoY in June, falling to 2% levels for the first time since September 2021. Contribution to CPI growth by category cam