Global TradFi & Macroeconomics

According to Yonhap Infomax, USD/KRW 1-month NDF fell to 1,338.80 won overnight on October 7-8, down 0.75 won from Seoul's previous spot close of 1,340.40. The decline came as the U.S. Dollar Index climbed to 102.5, driven partly by renewed fiscal concerns in France, UK, and Italy that pushed EUR/US

DB Securities raised its target stock price for SK Innovation to 200,000 won from 150,000 won on the 8th, citing global oil inventory shortages and the potential for its subsidiary SK Enmore to secure new customers. The brokerage maintained its 'buy' investment rating. Analyst Han Seung-jae noted th

According to DB Securities on October 8, analyst Han Seung-jae raised the target price for SK Innovation from 150,000 won to 200,000 won, citing global oil inventory depletion and potential new customer acquisition. The research note highlighted that SK Enmove, SK Innovation's subsidiary, benefits f

Hana Securities analyst Kim Min-kyung forecasted on October 8 that semiconductor PCB substrate prices will rise again from late this year to early next year, targeting high-value memory package substrates for LPDDR and GDDR. The anticipated increase stems from surging AI datacenter demand and

France is experiencing a fiscal crisis as its 10-year government bond yield approaches 5%, reaching a 20-year high and surpassing rates in Greece and Italy. High school students and teachers have taken to the streets in protests against classroom deterioration and a government plan to cut 4,000 teac

KOSDAQ-listed BGF Ecomaterials announced a tender offer to repurchase up to 3,896,104 shares at 3,850 KRW per share. The 20-day tender offer runs from the 8th to the 27th, with a maximum purchase amount of 15 billion KRW. The company plans to cancel all acquired shares to enhance shareholder

NH Investment & Securities on October 8 maintained its 'Buy' investment rating on NC (stock code 036570) while lowering the target price from 380,000 won to 320,000 won. Analyst Ahn Jae-min stated that Aion 2 Global, officially launched on October 5, shows solid traffic but falls short of

Securities firms, venture capitalists, and issuing companies in South Korea's KOSDAQ market share structural incentives to inflate initial public offering valuations, leaving retail investors to absorb post-listing losses. Underwriters earn success fees of 3-5% of total offering proceeds only when l

According to Hana Securities on October 8, memory package substrate prices are expected to rise further from late 2026 through early 2027, driven by surging demand from AI data centers and a tightening supply situation. Analyst Kim Min-kyung noted that the primary driver is no longer raw material co

According to Korean Investment & Securities analyst Kim Myung-joo, Emart's third-quarter consolidated operating profit is expected to reach 144.9 billion KRW, down 17.7% from market consensus expectations. On a separate basis, the company's Q3 operating profit is projected at 165.9 billion KRW,

According to Yonhapnews, French high school students and teachers took to the streets on October 6 to protest teacher layoffs and deteriorating classroom conditions. The demonstrations coincide with France's 10-year government bond yields reaching 5%, the highest level in 20 years, significantly

According to NH Investment Securities on October 8, the firm cut its price target for NC (036570) to 320,000 Korean won from 380,000 won, while maintaining a buy rating. Analyst Ahn Jae-min noted that while Aion 2 Global's traffic appears solid since its October 5 launch, it fell short of market

Korean government bond futures showed mixed performance in overnight trading on October 8, tracking movements in US Treasuries. The 3-year bond futures gained 5 ticks to close at 102.62, while 10-year futures declined 20 ticks to 104.44. The divergence reflected mixed signals from the US Treasury ma

According to Seoul Bond Market data, South Korea's 3-year treasury futures closed 5 basis points higher at 102.62 during overnight trading on October 8, while 10-year futures fell 20 basis points to 104.44. Trading volume increased significantly, with 3-year contracts rising to 132 from 72 a day ear

SiC semiconductor manufacturer Wolfspeed reached a financing agreement with the U.S. Department of Defense on October 7, securing a $1.5 billion commitment over 30 years, with shares surging nearly 24% in after-hours trading. The DoD will receive warrants equivalent to 7.5% of Wolfspeed's equity

South Korea recorded a current account surplus of $46.11 billion in August, marking the second-highest figure on record, according to data released by the Bank of Korea on October 8. The surplus was driven by strong semiconductor exports, with IT product shipments surging 162.6% year-over-year.

Korea Aerospace Industries faces Q3 2024 performance below market expectations due to ongoing Light Armed Helicopter delivery delays, Yuanta Securities analyst Baek Jong-min reported October 8. The delivery disruptions that began in Q2 persisted through Q3, though the company partially offset

Kona I is forecast to see earnings improvement next year driven by expanded government support for regional currency and growing metal card supply in North America, according to NH Investment & Securities on the 8th. The brokerage projected an 18% increase in operating profit next year but did not p

NH Investment & Securities forecasts continued earnings improvement for Kona I, driven by expanded regional currency support budgets and increased metal card supply to North America. Analyst Kang Kyung-geun attributes the positive outlook to Kona I's 73% market share in the card-type regional curren

US President Donald Trump pressured the Federal Reserve to cut interest rates on October 7 (local time) as 30-year fixed mortgage rates climbed to 7.49%, the highest level in approximately three years. Trump stated he believes the Fed Board wishes the country would not perform well, criticizing the