◆Aju Economic Major News
▷[JoyWorks & Co. shares drop 61% in a month, market cap down 79%]
- Shares of JoyWorks & Co., a KOSDAQ-listed company, have plummeted approximately 61% over the past month, falling to the 600 won range, with its market capitalization decreasing by about 79% from 63 billion won to 13.2 billion won over the past year.
- The decline in stock price is attributed to a boycott and weakened investor sentiment following a controversy involving former CEO Cho Sung-hwan earlier this year. Despite a change in leadership and an official apology, the company has failed to regain market trust.
- The company has attempted to rebound by pursuing performance improvements, stock consolidation, and a capital increase, which briefly raised the stock price to 3,650 won, but it has since fallen back below 1,000 won, becoming a penny stock.
- In the first quarter of this year, the company reported a profit with sales of 21.2 billion won and an operating profit of 3.4 billion won, but the stock price has not recovered. Investors are concerned about the possibility of trading suspension and delisting due to stricter delisting review criteria.
- JoyWorks & Co. plans to present an agenda at its extraordinary general meeting on the 20th to add nuclear-related businesses to its objectives, aiming for diversification and recovery of corporate value.
◆Major Reports
▷U.S. stocks continue to rise amid tech fundamentals and soft landing expectations [LS Securities]
- U.S. stocks rose, buoyed by Foxconn's surprise second-quarter results and expectations for AI server demand, with the Philadelphia Semiconductor Index climbing 2.2%, marking a resurgence in the semiconductor rally.
- Positive developments for big tech include the extension of custom chip supply contracts between Broadcom and Apple, as well as Micron's long-term memory supply agreement with Ford, improving sentiment for AI semiconductor investments.
- Following three consecutive weeks of significant reductions in hedge fund positions in tech stocks, the easing of position burdens has led to an influx of bargain buying, supporting the rise in tech stocks.
- Global investment institutions expect the AI investment cycle to continue, with sustained capital expenditures from major cloud companies and performance confirmations being key variables for further gains in the second half of the year.
- The U.S. ISM Services PMI for June indicates continued expansion while showing signs of easing price pressures, reducing concerns about further tightening from the Federal Reserve, which has also raised the need for improved communication of its policies.
◆Major Disclosures After Market Close (July 6)
▷SK Hynix revises total ADR issuance from 45 trillion to 43 trillion won
▷Naver Financial and Dunamu stock exchange postponed again... scheduled for December 31
▷PS Electronics decides to enter into a trust contract for the acquisition of 5 billion won in treasury stock
▷Samji Electronics enters into a trust contract for the acquisition of 15 billion won in treasury stock
▷Orion Group conducts its first quarterly dividend in company history... totaling 100 billion won
▷Vinatek signs a supply contract for supercapacitors for data centers worth 13.1 billion won
◆Fund Trends (as of July 3, excluding ETFs)
▷Domestic equity: +185.3 billion won
▷Overseas equity: +33.6 billion won
◆Key Schedule for Today (July 7)
▷Japan: Household Spending (May)
▷Germany: Industrial Production (May)
▷U.S.: Import and Export Trends (May), New York Fed Consumer Expectations Survey (June)
* This article has been translated by AI.
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