◆Ajou Economy Major News
▷SK Hynix Surpasses Samsung Electronics in Market Capitalization for First Time in 26 Years
- According to the Korea Exchange, as of market close on June 22, SK Hynix's market capitalization was recorded at 2,080.3782 trillion won, while Samsung Electronics stood at 2,066.6594 trillion won.
- SK Hynix's market cap exceeded 2,000 trillion won for the first time at 9:30 a.m. and continued to rise by over 5%, while Samsung Electronics saw a modest increase of around 0.5%, resulting in a reversal of their market cap rankings.
- However, this figure is based on common shares; when including Samsung's preferred shares (179.7311 trillion won), Samsung Electronics still holds the top position in market capitalization.
- Nonetheless, this reversal is significant in the history of the domestic stock market, marking the first time since November 2000 that Samsung Electronics has lost its top spot in the KOSPI.
- At the end of February, the market cap difference between Samsung Electronics and SK Hynix exceeded 525 trillion won. By June 19, this gap had narrowed to approximately 99.7 trillion won, leading to this historic reversal.
- The stock price performance also shows a stark contrast. Since the beginning of the year, Samsung Electronics has risen by 175%, while SK Hynix has surged by 331%. Compared to a year ago, Samsung's stock has increased by about 494%, while SK Hynix's has skyrocketed by 1,036%, widening the gap further.
◆Major Reports
▷Strengthening Liquidity Regulations and Increased Demand from Securities Firms [KB Securities]
- Credit spreads have widened on a weekly basis, and investor sentiment towards credit bonds has not yet clearly recovered.
- In the short-term funding market, the issuance of commercial paper and short-term bonds by securities firms has increased, raising supply pressures, while demand is limited due to factors such as half-year-end repurchase responses and outflows from bond funds.
- However, the purchasing of credit bonds by pension funds is absorbing some of the selling pressure from asset managers, which is a positive sign. While not sufficient to drive the market, it serves as a buffer in a bearish phase.
- For investor sentiment towards credit bonds to improve, a reduction in the supply-demand imbalance in the issuance market is necessary.
◆Key Announcements After Market Close (June 22)
▷Finger Story announces a 3 billion won third-party allocation capital increase
▷Dongyang ENP decides to retire 6 billion won of its own shares
▷Jeongwon NCS decides to retire 1.4 billion won of its own shares
▷NXC acquires a 15% stake in Nexon through its European investment corporation
◆Fund Trends (as of June 19, excluding ETFs)
▷Domestic equity funds: -2.354 trillion won
▷Overseas equity funds: -116.6 billion won
◆Today's Key Schedule (June 23)
▷South Korea: Consumer Sentiment Index (June)
▷Germany: Manufacturing PMI, Services PMI (June)
▷Eurozone: Manufacturing PMI, Services PMI (June)
▷United States: Manufacturing PMI, Services PMI (June)
* This article has been translated by AI.
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