◆Aju Economy Top News
▷Foreign and institutional investors reverse from net selling to net buying; retail investors post record 14.7 trillion won net selling
-Over the past month, Kospi fund flows flipped, with foreign investors shifting from net sellers to net buyers.
-Retail investors, meanwhile, have logged about 14.7 trillion won in net selling so far this month, the largest on record.
-Foreign and institutional investors have focused their buying on heavyweight semiconductor shares such as Samsung Electronics and SK hynix, with net purchases topping 2.5 trillion won and 6.9 trillion won, respectively.
-The move contrasts with last month’s sharp sell-off, when retail investors bought heavily; in the current upswing, they appear to be taking profits mainly in semiconductor stocks.
-Some in the market expect the Kospi’s uptrend could extend further as expectations build for an improving semiconductor cycle and upward earnings revisions.
◆Key Reports
▷Mirae Asset Securities: “OCI Holdings target price raised on expectations for SpaceX cooperation”
-Mirae Asset Securities raised its target price for OCI Holdings to 400,000 won from 270,000 won, citing expectations of a partnership with SpaceX and higher earnings estimates. It maintained a “buy” rating.
-The firm said rising U.S. power demand could lift the value of generation assets and power purchase agreement prices, supporting both a higher sale price for OCI Energy assets and improved core earnings.
-It also viewed the company’s polysilicon capacity expansion plan as a sign that cooperation with SpaceX is progressing, and cited strengths including low production costs and room to expand amid demand for non-China supply chains.
-While results fell short of expectations in the near term, the firm said improvement should continue over the medium to long term on expansion and demand growth, keeping the stock as its top pick in the sector.
◆Major disclosures after the close (24th)
▷Erem decides on a 11 billion won rights offering
▷Hyosung Heavy Industries posts 152.3 billion won in first-quarter operating profit, up 48.8% from a year earlier
▷Dmoa decides on a 19 billion won rights offering
▷Woori Financial Group: “Additional acquisition of Woori Investment & Securities shares worth 1 trillion won”
◆Fund flows (as of the 23rd, excluding ETFs)
Domestic equity funds: 63.5 billion won
Overseas equity funds: 15.0 billion won
◆Today’s (Mon) key schedule
China: Industrial profits (March); Standing Committee meeting of the National People’s Congress
United States: 2-year Treasury auction; 5-year Treasury auction
* This article has been translated by AI.
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