◆Ajou Economy Major News
▷[KOSDAQ Becomes a Ghost Town] No New Listings, Only Exiting Companies... KOSDAQ Fails to Serve as a 'Growth Ladder'
- According to the Korea Exchange on June 23, the only new listing on the KOSDAQ market this year was S-Tech M, which went public in April. Following six new listings in 2024 and four in 2025, the trend of new listings has effectively come to a halt this year.
- In contrast, more companies are leaving the market. There were 10 delistings in 2024 and 7 in 2025, with 9 companies, including AMCG, delisted this year.
- Originally designed as a stepping stone for companies transitioning from KOSDAQ, the necessity of using KOSDAQ has diminished significantly due to the expansion of direct pathways to KOSDAQ through technology and growth special listings. In fact, there have been no KOSDAQ transitions from KOSDAQ companies this year, following four in 2024 and three in 2025.
- Market liquidity is also drying up. Over the past three years, the average daily trading volume in the KOSDAQ market has steadily decreased from 1.936 trillion won to 1.651 trillion won, and then to 1.324 trillion won. Trading volume plummeted from an average of 926,000 shares in 2024 to 490,000 shares in 2025, and has remained around 564,000 shares this year.
◆Major Reports
▷Window on Asset Allocation: A Turning Point in UK Politics, Markets Focus on Fiscal Policy [Hana Securities]
- The UK economy is currently grappling with structural issues of low growth and high government debt.
- Additionally, concerns over a resurgence of inflation have raised the possibility of a shift in the Bank of England's tightening policy or prolonged high interest rates, further constraining the policy environment.
- While inflation has peaked, it remains at a high level compared to other major advanced economies, significantly increasing the government's interest burden. At the same time, the economic recovery is weak, and productivity improvements are limited.
- As a result, the UK bond market is increasingly prioritizing fiscal credibility over political leanings. Under the potential leadership of Burnham, the market's focus is likely to shift to the composition of the economic team.
◆Key Announcements After Market Close (June 23)
▷ Korea Zinc clarifies rumors or reports, stating it has not considered a capital increase.
▷ Ascendio decides to consolidate shares from 500 won to 2,500 won.
▷ Jinheung Corporation decides to consolidate shares from 500 won to 5,000 won.
▷ Cham Engineering submits an objection to its delisting to the Korea Exchange.
▷ Trinity Airlines decides to retire approximately 2.76 billion won worth of its own shares.
◆Fund Trends (as of June 22, excluding ETFs)
▷Domestic Equity: -168.6 billion won
▷Foreign Equity: -19.1 billion won
◆Key Schedule for Today (June 24)
▷Taiwan: Industrial Production (May)
▷Germany: Ifo Business Climate Index (June)
▷United States: New Home Sales (May)
* This article has been translated by AI.
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