◆Ajou Economic Major News
▷KOSPI reaches all-time high as semiconductor stocks rally
- The KOSPI index has once again set a record high. - A rally in major semiconductor stocks, led by Samsung Electronics and SK Hynix, has pushed the KOSPI index close to the 7,900 mark. - However, the upward trend is concentrated on these two large-cap semiconductor stocks, leading to a pronounced 'K-shaped' divergence in stock performance. - Analysts are expressing optimistic forecasts, with domestic brokerages suggesting that the KOSPI could surpass 8,000 and even reach 9,000. Foreign investment bank JP Morgan has projected that the KOSPI could exceed 10,000. - The recent surge is primarily driven by the semiconductor sector. - On this day, Samsung Electronics and SK Hynix saw their shares rise by 6% and 13%, respectively, as expectations for increased demand for AI semiconductors grow, effectively leading the market's rise.
◆Key Reports
▷Impact of high oil prices expected to intensify by August [KB Securities]
- As the U.S.-Iran conflict drags on, the actual frequency of price increases will be determined by the secondary effects of rising oil prices. - The secondary effects are theoretically significant due to demand, and with South Korea's economic growth rate likely to rise to the upper 2% range this year, concerns are heightened. - The challenge is that the recent economic upturn is largely attributed to the semiconductor cycle, making it difficult to isolate the intensity of 'demand-side' inflation. - However, despite the current growth rate, particularly in private consumption, being lower than in the past, the actual extent of economic sluggishness is not as severe compared to the reduced potential growth rate, warranting careful monitoring of inflation trends.
◆Major Announcements After Market Close (May 11)
▷Lotte Shopping reports Q1 operating profit of 252.9 billion won, a record for department stores.
▷S-Oil posts Q1 operating profit of 1.2311 trillion won, influenced by rising oil prices.
▷Hanwha Ocean secures an additional order for an LNG carrier worth 363.2 billion won.
▷IS Dongseo signs a construction contract worth 63.5 billion won with SK Eco Plant for a new project in Cheongju.
▷KR Motors decides on a 5-for-1 stock consolidation to maintain appropriate circulating shares.
▷Korea Electric Power Corporation (KEPCO) reports Q1 operating profit of 37 billion won, up 374.6% year-on-year.
▷TYM announces Q1 operating profit of 35 billion won, a 131.5% increase year-on-year.
▷Kia changes its CEO, with Song Ho-sung becoming the sole representative director.
▷Samsung Securities reports Q1 operating profit of 609.5 billion won, an 82.1% increase year-on-year.
◆Fund Trends (as of May 8, excluding ETFs)
▷Domestic equity funds: -197.9 billion won
▷Overseas equity funds: -26.4 billion won
◆Key Schedule for Today (May 12)
▷China: Automobile sales (April)
▷Germany: Consumer Price Index (final, April), ZEW Economic Sentiment Index (May)
▷United States: Small Business Optimism Index (April), Consumer Price Index (April)
* This article has been translated by AI.
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