◆아주경제 주요뉴스
▷KOSPI Falls 28.51% Since June, Leading Global Market Declines
- The KOSPI index has dropped 28.51% from its peak on June 22 to July 20, making it the largest decline among major global stock markets. Even with a 3.56% rebound on July 21, the index has fallen approximately 25% over the month, reversing its position as the top performer in the first half of the year.
- The sharp decline in the stock market and increased volatility have led to a noticeable outflow of investment funds. Since early June, foreign investors have sold a net 70.9399 trillion won in the securities market, while the total investment deposits have decreased from 139.6948 trillion won on July 4 to 108.818 trillion won by July 16, a drop of over 31 trillion won in just one month.
- Experts attribute the market drop to supply factors, including a focus on AI and semiconductors and the liquidation of leveraged funds, rather than a deterioration in fundamentals. Foreign selling has reached extreme oversold levels, and the KOSPI's 12-month forward price-to-earnings ratio has fallen to 5.7 times, suggesting a potential for a rebound due to incoming bargain-hunting.
◆주요 리포트
▷IPO가 다시 불 붙일 AI 랠리 [NH투자증권]
- The recent AI rally has entered a correction phase due to uncertainties around monetization and concerns over the cyclical revenue structure between AI companies and hyperscalers. NH Investment & Securities forecasts that upcoming IPOs of AI model companies will help clarify actual revenue structures and real demand, alleviating doubts about the AI cycle.
- The key to these IPOs lies in validating the usage and performance-based billing models of AI companies in the market. Global debt issuance related to AI is expected to reach $400 billion this year, with IPOs expanding funding sources from private equity and corporate bonds to public equity, thereby increasing transparency in circular investments and leverage structures.
- If the profitability and real demand of AI models are confirmed, the justification for large-scale AI infrastructure investments will strengthen, leading to increased demand for hardware such as semiconductors, memory, and infrastructure. In particular, the expansion of inference and AI agents is expected to benefit companies related to memory (HBM), server CPUs, and networking.
◆장 마감 후(21일) 주요공시
△블랙록, KAI 지분 5% 넘겼다…주요 주주 올라
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△에이프릴바이오, 큐리진과 기술도입 계약 체결
△고려아연, 종속회사 Richmond Valley Energy Reserve Holdings Pty Ltd의 유상증자 결정 공시
◆펀드 동향(20일 기준, ETF 제외)
▷국내 주식형: 887억원
▷해외 주식형: -414억원
◆오늘(22일) 주요일정
▷한국: 생산자물가지수(6월)
▷채권: 미국 20년물 국채 입찰
* This article has been translated by AI.
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