In today’s briefing:
- Square’s Level 2 Leverage Caps End Tomorrow — Fresh Near‑term Factor in the Square Vs Hynix Setup
- LG Corp: NAV Analysis Suggests a 29% Upside, Likely to Catch Up to LG Chem
Square’s Level 2 Leverage Caps End Tomorrow — Fresh Near‑term Factor in the Square Vs Hynix Setup
- Square closed ₩290,000, missing all criteria; Level 2 removal effectively confirmed, with KRX disclosure expected ~8 p.m. Seoul, effective from tomorrow’s open.
- Square vs Hynix hinges on retail chase structurally, but near‑term Square’s underperformance worsened by asymmetric leverage shackles.
- Square’s Level 2 setup ends tomorrow; flows normalize, likely giving Square more juice vs Hynix. Key spot to watch from tomorrow’s open.
LG Corp: NAV Analysis Suggests a 29% Upside, Likely to Catch Up to LG Chem
- Our updated NAV valuation of LG Corp suggests implied market cap of 17.2 trillion won or target price of 111,605 won per share, representing 29.3% higher than current levels.
- LG Corp’s investment stakes in LG Chem and LG Electronics are worth 15.7 trillion won representing 119% of LG Corp’s entire market cap.
- Lower taxes on dividends could accelerate the capital allocation to companies with higher dividend yields/payouts such as LG Corp.
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