◆ Ajou Economy Top News
▷ Foreign and institutional investors flip from selling to buying; retail investors post record net selling of 14 trillion won
- South Korea’s stock market, lifted by strength in AI-related semiconductor shares, moved ahead of the U.K. to rank eighth globally by market capitalization.
- The KOSPI closed at 6,641.02, setting another all-time high after briefly topping 6,700 during the session.
- Total market capitalization in South Korea rose to about 6,116 trillion won, up 53% from the end of last year.
- Some brokerages cited the AI semiconductor-led rally and policy momentum in projecting the KOSPI could reach 7,000 to 8,000.
◆ Key Report
▷ Heungkuk Securities: Hyundai Steel outlook improves; target price raised
- Heungkuk Securities kept its “buy” rating on Hyundai Steel and raised its target price to 55,000 won.
- The company’s first-quarter results missed expectations, with revenue of 5.7397 trillion won and operating profit of 15.7 billion won, but higher sales volume confirmed a recovery in demand.
- The brokerage said improved steel scrap prices, subsidiary performance and one-off gains helped cushion consolidated profitability.
- It forecast results would continue improving from the second quarter, reflecting higher prices in China, better supply-demand conditions and the impact of price increases.
◆ Major filings after the close (28th)
▷ CrowdWorks: 1 billion won paid-in capital increase
▷ Aptochrom: 12 billion won paid-in capital increase
▷ GemVax: additional purchase of Korea Stem Cell Bank shares worth 12.4 billion won
▷ KBI Metal: acquisition of Wonyoung Hitech shares, raising stake to 100%
▷ SK Bioscience: share buyback worth 17.1 billion won
▷ NC: provides 21.8 billion won worth of treasury shares to employees
◆ Fund flows (as of the 27th, excluding ETFs)
Domestic equity funds: 132 billion won
Overseas equity funds: -5.7 billion won
◆ Key events today (Wed.)
Eurozone: M3 (March), corporate loans (March), consumer confidence (April)
United States: durable goods orders (March), housing starts and permits (March), remarks by Federal Reserve Chair Powell
* This article has been translated by AI.
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