◆Aju Economy Major News
▷KOSPI Plummets 9% in 'Black Monday' Amid Panic Selling Driven by Four Triggers
- The KOSPI index fell below 7,000 for the first time in over two months, while the KOSDAQ dropped below 800, marking a 'Black Monday.'
- The decline was led by a sell-off in semiconductor stocks, fueled by evaporating hopes for SK Hynix's ADR listing and concerns over semiconductor market peaks.
- Renewed Middle East risks from U.S.-Iran tensions also dampened investor sentiment, but the primary factor for the domestic market's decline was identified as a supply disruption in semiconductors.
- The situation was exacerbated by the liquidation of leveraged ETFs and foreign selling of futures, creating a 'wag the dog' effect, with upcoming second-quarter earnings and AI investment profitability seen as key variables.
◆Major Reports
▷Yuanta Securities: 'Hana Financial Expected to Improve NIM and Expand Shareholder Returns... Target Price Raised to 170,000 Won'
Yuanta Securities has raised its target price for Hana Financial Group by 3% to 170,000 won while maintaining a 'buy' rating.
The second-quarter net profit attributable to shareholders is expected to reach 1.2227 trillion won, in line with consensus, driven by improved NIM and increased interest income from loan growth.
However, a 50 billion won provision related to exposure to the Central Group is noted as a performance burden.
The total shareholder return rate for 2026 is projected at 50.6%, with an expected total shareholder return yield of 6.9% by year-end, supporting the rationale for the target price increase.
◆Key Disclosures After Market Close (July 13)
▷ Hanwha Galleria Acquires Land in Sinsa-dong for 237 Billion Won
▷ Graphy Raises 12.1 Billion Won in Rights Offering... Allocated to Third Parties Including Korea Securities Finance
▷ Korean Air Reports 34% Drop in Operating Profit Due to Rising Fuel Costs
▷ Techwing's Second-Quarter Operating Profit Up 96.6% Year-on-Year
▷ Eugene Technology Announces 0.2 Shares of Free Stock Dividend
◆Fund Trends (As of July 10, Excluding ETFs)
Domestic Equity: 2 Billion Won
Overseas Equity: 6.8 Billion Won
◆Today's Schedule (Tuesday)
U.S. - Consumer Price Index (June), Small Business Optimism Index (June), Kevin Warsh Testifies (House Hearing - Monetary Policy)
Earnings - JPMorgan (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), Citigroup
* This article has been translated by AI.
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