Global TradFi & Macroeconomics

The U.S. has confirmed with China that provisions related to Hong Kong in Executive Order 13936 will not be renewed when they expire later this year, effectively terminating the order. The move signals a potential easing of restrictions on U.S. institutional investment in Hong Kong equities, with

The Korean government expanded the National Growth Fund from 150 trillion won to 200 trillion won during a presidential briefing last week, increasing annual supply from 30 trillion won to 40 trillion won over five years. The Financial Services Commission confirmed that direct equity investment

TSMC CFO Wendell Huang stated on the 19th that financial markets are beyond the company's control, responding to a 7%+ stock decline on the 17th—the day after the earnings announcement on the 16th when shares rose approximately 1%. The stock drop followed the quarterly results release. Huang

According to South Korea's Financial Services Commission, the government announced on July 20 that it will expand the National Growth Fund to 200 trillion won over five years, up from the original 150 trillion won target. The annual funding allocation will increase from 30 trillion won to 40 trillio

According to Jin10, on July 17, major global stock indices fell, with Asian markets leading losses. China's ChiNext index dropped 7.15% and the Sci-Tech 50 index fell 7.12%, while Hong Kong's Hang Seng declined 1.78%. In the U.S., the S&P 500 fell 1.01% to 7,457.66, the Nasdaq Composite dropped 1.4

According to Jin10 Futures, on July 20, crude oil prices continued rising, with positive fundamentals in the domestic fuel oil market providing support. Domestic fuel oil traders showed increased confidence in pushing prices higher, while downstream buyers remained cautious with conservative

Hana Securities on July 20 maintained an 'overweight' investment rating on Korean banking stocks while recommending Woori Financial Group and iM Financial Group as top picks based on valuation attractiveness, according to analyst Choi Jung-wook. The recommendation follows the Bank of Korea's July 16

SK Hynix is conducting a bidding process among domestic and international financial institutions to allocate approximately ₩40 trillion raised through its Nasdaq American Depositary Receipt (ADR) listing. The company plans to distribute the funds across foreign exchange, bonds, and deposits based on

Doosan is projected to record its highest quarterly operating profit in three years during the second quarter, driven by the global AI infrastructure boom. According to a consensus survey by Yonhap Infomax of six major securities firms that submitted earnings forecasts within the past month, Doosan'

According to Hana Securities analyst Choi Jeong-wook, the firm recommended Woori Finance (trading at 0.57x price-to-book ratio) and IM Finance (0.44x PBR) as undervalued opportunities on July 20, despite near-term consolidation risks for bank stocks following recent gains. Woori Finance has

According to Korean financial sources, SK Hynix raised approximately 40 trillion won (roughly $30 billion) through a NASDAQ ADR listing on July 20, and is currently conducting competitive bidding among domestic and foreign financial institutions to allocate the funds across foreign currency,

As of 9:16 a.m. on July 20, Samsung Electronics and SK Hynix turned positive after earlier declines, lifting related stocks higher. SK Square rose 0.08% to 1,214,999 Korean won, while Samsung Electronics Preferred shares climbed 1% to 174,000 won.

According to China Foreign Exchange Trade System (CFETS), on July 17, the RMB exchange rate index rose 0.07 points on a weekly basis to 102.42.

Kyobo Securities lowered its target price for Hyundai Engineering & Construction stocks from 230,000 won to 180,000 won, a 21.7% reduction, while maintaining a 'Buy' rating. The downgrade reflects delayed nuclear plant contract confirmations

China's central bank has 1.9635 trillion yuan in reverse repurchase agreements (reverse repos) scheduled to mature this week. Maturities are distributed across the week as follows: Monday 224 billion yuan, Tuesday 236.5 billion yuan, Wednesday 426.5 billion yuan, Thursday 626 billion yuan, and

According to Jin10, spot platinum rose 0.35% and spot palladium rose 0.58% as of 8:30 AM Beijing time on July 20.

Joshua Crabb, Head of Asia-Pacific Equities at Robeco Asset Management, stated in an interview that KOSPI's current rally represents a 'de-rating' phase where earnings growth outpaces stock price increases, contrary to typical 're-rating' patterns. The assessment follows KOSPI's record-breaking

According to Joshua Crabb, head of Robeco's APAC equity division, in an interview with Yonhap Infomax on July 20, South Korea's KOSPI has entered a de-rating phase rather than a re-rating one despite doubling in value this year. Crabb noted that while valuations rose from 12x to 15x

According to Huawen Futures report, BHP's Chile union held an 8-hour strike on July 16, with limited impact on actual production but increased market focus on labor risks. Import copper concentrate processing fees dropped to $146 per dry ton, marking a historic low amid tight supply. Chile faced

On July 20, South Korea's KOSPI index fell 3.19% to 6,602.80 points at 9:04 a.m. local time, with intraday lows reaching 6,515.24 points (-4.48%). Foreign investors sold 136.8 billion Korean won worth of shares while institutions offloaded 14.3 billion won; retail investors were net buyers of 148.2