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

Mirae Asset Securities

External broker reports(aggregated public sources)

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

Thematic (Sector/Industry)

<ul><li>The KOSPI continues its semiconductor-led rally, surpassing 5,000p only three months after crossing the 4,000p mark.</li><li>Because the rally has been primarily earnings-driven, valuation pressure remains limited, with the KOSPI’s 12-month forward P/E standing at 10.6x.</li><li>Over the past three months, the KOSPI has climbed approximately 30%, while the EPS consensus has been revised up 37%. </li></ul><p><em>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.</em></p>

The KOSPI continues its semiconductor-led rally, surpassing 5,000p only three months after crossing the 4,000p mark.Because the rally has been primarily earnings-driven, valuation pressure remains limited, with the KOSPI’s 12-month forward P/E standing at 10.6x.Over the past three months, the KOSPI has climbed approximately 30%, while the EPS consensus has been revised up 37%. 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[February] Positioning for the Market’s Next Phase

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>We discuss the five most important factors driving the Korean stock market this year which was the best performing among all major country equity markets in the world in 2025.</li>
<li>These five factors included the global AI boom, wars and rumors of wars, beneficiaries of MASGA, Korea Value-Up initiatives, and reduced political uncertainties with new President elected in June 2025. </li>
<li>Our best bet to diversify one's portfolio and be more cautious because staying alive will be a key in 2026 rather than FOMO, especially in 2H 2026. </li>
</ul>


We discuss the five most important factors driving the Korean stock market this year which was the best performing among all major country equity markets in the world in 2025.
These five factors included the global AI boom, wars and rumors of wars, beneficiaries of MASGA, Korea Value-Up initiatives, and reduced political uncertainties with new President elected in June 2025. 
Our best bet to diversify one's portfolio and be more cautious because staying alive will be a key in 2026 rather than FOMO, especially in 2H 2026. 


Korean Stock Market - The Best Performing Among Major Countries Indices in 2025

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Sep 25th. The aggregated holding was USD1,755.4bn.</li>
<li>We estimate that foreign flows to be inflows of USD1,304mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Samsung Electronics, SK Hynix, SamsungElecMech, SKSQUARE, LG Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 25th. The aggregated holding was USD1,755.4bn.
We estimate that foreign flows to be inflows of USD1,304mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Samsung Electronics, SK Hynix, SamsungElecMech, SKSQUARE, LG Electronics.


KRX Foreign Holding Weekly (Sep 25th): Samsung Electronics, SK Hynix, SamsungElecMech, SKSQUARE

Event-Driven

<ul>
<li>As of 1 September, SK Hynix and Samsung Electronics have repurchased 13.5 trillion won, representing 24.5% of total planned buyback amount.</li>
<li>At the current pace, SK Hynix is expected to complete its buyback by October 2026. Samsung Electronics is also expected to complete its buyback earlier (in late September or October). </li>
<li>I continue to maintain the view that Samsung Electronics will announce a much bigger buyback/cancellation program in January 2027.</li>
</ul>


As of 1 September, SK Hynix and Samsung Electronics have repurchased 13.5 trillion won, representing 24.5% of total planned buyback amount.
At the current pace, SK Hynix is expected to complete its buyback by October 2026. Samsung Electronics is also expected to complete its buyback earlier (in late September or October). 
I continue to maintain the view that Samsung Electronics will announce a much bigger buyback/cancellation program in January 2027.


Progress of 55 Trillion Won Share Buybacks Announced by SK Hynix and Samsung Electronics

<ul>
<li>In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (6 to 20 June 2025).</li>
<li>The top three picks in the past two weeks included Samsung C&amp;T, Amorepacific Holdings, and Samsung Securities . They were offset by poor performances by Nongshim and Krafton. </li>
<li>The top 10 picks in this bi-weekly include Amorepacific Holdings, LG Corp, Hyundai Elevator, CS Wind, SK Hynix, Korea Investment Holdings, Samsung F&amp;M Insurance, JYP Entertainment, HiteJinro, and SK Inc.</li>
</ul>


In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks (6 to 20 June 2025).
The top three picks in the past two weeks included Samsung C&amp;T, Amorepacific Holdings, and Samsung Securities . They were offset by poor performances by Nongshim and Krafton. 
The top 10 picks in this bi-weekly include Amorepacific Holdings, LG Corp, Hyundai Elevator, CS Wind, SK Hynix, Korea Investment Holdings, Samsung F&amp;M Insurance, JYP Entertainment, HiteJinro, and SK Inc.


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (6 June to 20 2025)

South Korea

Samsung C&T Corporation conducts diversified business support services and resort operation activities. The Company offers a range of services in areas including clothing retail, construction, energy, real estate, food service, and resort accommodations. Samsung C&T also operates a resort with amusement rides, a zoo, water park, golf clubs, and restaurants.

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Samsung C&T (028260 KS)

Equity Strategy[February] Positioning for the Market’s Next Phase

Because the rally has been primarily earnings-driven, valuation pressure remains limited, with the KOSPI’s 12-month forward P/E standing at 10.6x.

Mirae Asset Securities

Korean Stock Market - The Best Performing Among Major Countries Indices in 2025

We discuss the five most important factors driving the Korean stock market this year which was the best performing among all major country equity...

Douglas Kim

KRX Foreign Holding Weekly (Sep 25th): Samsung Electronics, SK Hynix, SamsungElecMech, SKSQUARE

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics, SK Hynix, SamsungElecMech,...

Ke Yan, CFA, FRM

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (6 June to 20 2025)

Top 10 picks in this bi-weekly include Amorepacific Holdings, LG Corp, Hyundai Elevator, CS Wind, SK Hynix, Korea Investment Holdings, Samsung F&M...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Equity Strategy[February] Positioning for the Market’s Next Phase

Because the rally has been primarily earnings-driven, valuation pressure remains limited, with the KOSPI’s 12-month forward P/E standing at 10.6x.

Mirae Asset Securities

Korean Stock Market - The Best Performing Among Major Countries Indices in 2025

We discuss the five most important factors driving the Korean stock market this year which was the best performing among all major country equity...

Douglas Kim

KRX Foreign Holding Weekly (Sep 25th): Samsung Electronics, SK Hynix, SamsungElecMech, SKSQUARE

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics, SK Hynix, SamsungElecMech,...

Ke Yan, CFA, FRM

Progress of 55 Trillion Won Share Buybacks Announced by SK Hynix and Samsung Electronics

According to Korea Exchange KIND reporting on Sept 23, Samsung Electronics repurchased 41.8 million shares over 21 trading days from Aug. 24 to...

Douglas Kim

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (6 June to 20 2025)

Top 10 picks in this bi-weekly include Amorepacific Holdings, LG Corp, Hyundai Elevator, CS Wind, SK Hynix, Korea Investment Holdings, Samsung F&M...

Douglas Kim