External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

External broker reports(aggregated public sources)

Founded in 1962, Daishin Securities is a leading financial services provider in Korea. Daishin securities does its best to provide high quality financial service and to satisfy the various needs of investors. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Strong leadership in technology and competitive edge secured across product lines amid chip market upswing</li><li>Ample room for re-rating as memory chips strengthen their market position</li><li>BUY rating maintained; TP raised to W550,000</li></ul>

Strong leadership in technology and competitive edge secured across product lines amid chip market upswingAmple room for re-rating as memory chips strengthen their market positionBUY rating maintained; TP raised to W550,000

SK Hynix (000660 KS Oct 21, 2025) - Seamless Trajectory

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

<ul><li>We upgrade our rating on SK Hynix from Hold to Buy and raise our target price by 73% to W520,000 (from W300,000).</li><li>We revised up our 2026 operating profit estimate by 31% to W59.8tr (from W45.9tr) while lifting our target P/B by 47% to 2.5x (from 1.7x).</li><li>We note that the rebound in the commodity chip market has been faster and more robust than we initially expected.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We upgrade our rating on SK Hynix from Hold to Buy and raise our target price by 73% to W520,000 (from W300,000).We revised up our 2026 operating profit estimate by 31% to W59.8tr (from W45.9tr) while lifting our target P/B by 47% to 2.5x (from 1.7x).We note that the rebound in the commodity chip market has been faster and more robust than we initially expected.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SK Hynix (000660 KS/Buy)Upgrade to Buy on Faster-Than-Expected Commodity Memory Rebound

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Cross Asset Strategy

<ul><li>A positive market reaction to SK Hynix, South Korea's leading memory chipmaker, on the Nasdaq is expected to provide a positive sentiment boost for speculative buying in technology stocks across Asian markets.</li><li>Thailand is scheduled to hold trade talks with the US on July 15–17, with the aim of keeping the Section 301 import tariff at 10%.</li><li>The Thai baht is expected to strengthen toward Bt33.14 per US dollar, which could attract further foreign fund inflows.</li></ul>

A positive market reaction to SK Hynix, South Korea's leading memory chipmaker, on the Nasdaq is expected to provide a positive sentiment boost for speculative buying in technology stocks across Asian markets.Thailand is scheduled to hold trade talks with the US on July 15–17, with the aim of keeping the Section 301 import tariff at 10%.The Thai baht is expected to strengthen toward Bt33.14 per US dollar, which could attract further foreign fund inflows.

Krungthai XSpring Zoom Eng. July 13, 2026

<ul><li>The Constitutional Court's ruling that the Bt400bn emergency borrowing decree is constitutional reinforces policy continuity and the government's ability to advance its economic agenda, providing a positive sentiment boost to domestic consumption plays (CPAXT, GULF, GUNKUL).</li><li>We expect the electronics sector to rebound, tracking the recovery in global technology stocks.</li><li>Foreign investors have remained net buyers of Thai equities for six consecutive trading sessions, with cumulative net inflows exceeding Bt26bn in July 2026.</li></ul>

The Constitutional Court's ruling that the Bt400bn emergency borrowing decree is constitutional reinforces policy continuity and the government's ability to advance its economic agenda, providing a positive sentiment boost to domestic consumption plays (CPAXT, GULF, GUNKUL).We expect the electronics sector to rebound, tracking the recovery in global technology stocks.Foreign investors have remained net buyers of Thai equities for six consecutive trading sessions, with cumulative net inflows exceeding Bt26bn in July 2026.

Krungthai XSpring Zoom Eng. July 10, 2026

Thematic (Sector/Industry)

<ul><li>Korean equities saw significant volatility in March, driven by the Iran war and concerns triggered by the unveiling of Google’s TurboQuant.</li><li>The KOSPI has fallen 13% in March, while the KOSDAQ has declined 4%.</li><li>Valuation pressures have eased as a result, with the KOSPI’s 12-month forward P/E and P/B declining to 8.2x and 1.44x, respectively (vs. 10.2x and 1.7x at end-February). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Korean equities saw significant volatility in March, driven by the Iran war and concerns triggered by the unveiling of Google’s TurboQuant.The KOSPI has fallen 13% in March, while the KOSDAQ has declined 4%.Valuation pressures have eased as a result, with the KOSPI’s 12-month forward P/E and P/B declining to 8.2x and 1.44x, respectively (vs. 10.2x and 1.7x at end-February). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Equity Strategy[April] All eyes on earnings

South Korea

SK Hynix Inc. provides products and services for the electronic components industry. The Company manufactures semiconductors, such as dynamic random access memory (DRAM), NAND flash memory, and static random access memory (SRAM) chips.

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SK Hynix (000660 KS)