[Meritz Securities Market Market] [Lee Soojung]
20231120 (Monday) Closure Status

Korean Won Mining Becomes Hot

1. NASDAQ Index rises for 3 consecutive weeks, reaching all-high resistance. Korea and Hong Kong stocks rebounded today, which were relatively lower. KOSPI +0.9%, KOSDAQ +1.8%, Shanghai Composite +0.4%, and Hang Seng (current) +1.5%. The weak dollar on expectations of a U.S. rate cut next year (down to 103pt for the first time since the dollar index 8/31), strengthening the won (below 1,300 won to 1,291.5 won) and strengthening the yuan (below 7.18 yuan during the day). Today is Samsung Electronics’ cash dividend payment day in the third quarter, and China’s lending preference rate (LPR) freeze for three consecutive months has kept the interest rate gap with the U.S. strong. Foreigners buy futures +645.3 billion won, KOSPI +97.4 billion won, and KOSDAQ +167 billion won, driving the index
2. Eco-promotion has reached the upper limit. It is not just before the market closes, but a strong appearance in which the upper limit is locked and maintained at 9:46, less than an hour after the opening. The transaction price decreased from 2.2 trillion won on the first day of listing to 0.6 trillion won today. Individuals accounted for most of the transactions, but the amount of purchases and sales was offset by the same size, and institutions sold net today, while foreigners (programs) and other corporations were net buyers. The previous day’s market capitalization was 3.9 trillion won, ranking 85th on the KOSPI → Today, the market capitalization was 5.1 trillion won, ranking 67th on the KOSPI. EcoPromotion’s valuation gains spread to other secondary batteries (market net Samsung SDI +3.7%, EcoPromb +5.5%, POSCO Future M +5.1%, EcoPromb +7.2%). Foreigners also bought POSCO Holdings (-16.4 billion won), LG Chem (-9.7 billion won), and LG Energy Solution (-7.2 billion won) from ECO Pro (+54.3 billion won)
3. As AI (noise related to the dismissal of Open AI CEO Sam Altman), autonomous driving (prosecution, search and seizure of Hyundai Autoever representative of “KT Boeun Investment Suspicion”) among the candidates for next year’s lead states, and space (some progress in the second Earth orbit test flight of SpaceX spacecraft Starship failed), semiconductors (uncertainty before and after the announcement of Nvidia performance), and transformers (the announcement of a paid-in capital increase of 100 billion won by Iljin Electric) slowed down, secondary batteries and robot advancements (Doosan Robotics +13.8% and Rainbow Robotics +3.8%). An amendment to the Intelligent Robot Development and Distribution Promotion Act has been implemented since the 17th, but cell-on has not come out, but rather, it has risen further thanks to the recent strength of new listed stocks
4. Last week, the company slightly turned back its album sales concern. JYP Ent. (+2.3 percent) responded by expressing confidence in the company on a YouTube channel (Suka World). Stray Kids ranked No. 1 on Billboard 200. YG Entertainment (+3.1 percent) is uncertain whether BLACKPINK will renew its contract as a whole, but it has been rumored to have agreed on group activities. Game stocks, which had been greatly excluded along with Enter, also returned with a victory in the League of Legends Champions Korea (LCK) T17 years. New works such as Krafton (+5.1%), NCsoft (+3.9%), and Netmarble (+4.3%) are illuminated
5. Saudi extends crude oil production until next spring, and oil prices rebound on reports of a possible 1 million barrel cut at the 11/26 OPEC+ meeting, rising shipbuilding stocks (Hanwha Ocean +12%, Samsung Heavy Industries +4.3%, HSD Engine +5.5%). Last week, HD Hyundai Heavy Industries (+3.0%) 2 LNG carriers from Greece EVALEND (additional), 2 VLECs from Asian ship owners, 4 VLACs from Hanwha Ocean Greece Naftomar, and reserved FLNG slots from Samsung Heavy Industries Canada Cedar LNG. Related stocks rose in anticipation of the government’s announcement of additional measures for low birth rates by the end of this year (SAMG Entertainment +18%, Dream Ratio +12%). Other than that, growth stocks are moving down the interest rate level. Ray (+12.7%, released cosmetic 3D face scanner), Bioneer (+8.9%), hair loss relief cosmetics Cosmerna obtained Japanese Ministry of Health, Labor and Welfare (MHLW) certification and will be sold in Amazon, Japan), Doosan Fuel Cell (+8.1%; Korea-Japan cooperation in hydrogen), Hanwha Solution (+3.9%), and CS Wind (+6.7%)
6. The recent strength of new listed stocks reflects the need to sell stocks with clean supply and demand, reducing interest rate concerns/prefering growth. Storm Tech, which went public today, also rose +73% compared to its public offering price, and even Padoo (+10%) rebounded. As in the case of Doosan Robotics → robot strength, the rise of new listed stocks such as smart radar system (+12%) → autonomous driving seems to be driving the entire theme. These Stocks Continue Before Large Stocks Break Through KOSPI’s 2,500pt Resistance

(자료) https://tinyurl.com/jsswznpx

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