[금일 증권업계 주요기사] The background of the suspension of Hyundai-Apple Car collaboration… S&P 500 and others swept by Bitcoin volatility

【Youth Daily】 As the cooperation between Hyundai Motor Group and Apple ceased to produce electric vehicles, attention was focused on the background, while the news was reported that the value of shares held by Honorary Chairman Chung Mong-koo and Chairman Eui-seon Eui-sun of the group has dropped sharply.

News of the operation of a loan-free trading system to block unborrowed short selling was announced, and experts’ opinion that the penetration of Toss’ securities market will not be significant.

Various issues have been raised, including news that the capital inflow to the Hong Kong stock market is increasing rapidly from mainland China, and news that New York Stock Exchange investors are also indirectly investing in virtual assets as Tesla started buying and selling bitcoin.

◆ Hyundai Motor-Apple Car ceases electric car collaboration… Focus on the background

The market was shocked when Hyundai Motor Company and Kia officially announced on the 8th that they were not conducting discussions with Apple on the’Apple Car’. The idea of ​​cooperation between Hyundai Motor Group and Apple began to be raised from the beginning of this year. On the 8th of last month, a domestic media report that Apple has been promoting the autonomous vehicle development project’Project Titan’, which has been promoted since 2014, is promoting the production of the’Apple Car’ and proposed cooperation to the Hyundai Motor Group, and that negotiations are being proposed.

The market analyzes that Apple’s famous’secretism’ and the fear of losing the initiative of the Hyundai Motor Group, which has already invested trillions of won to lead the future car market, have caused discussions between the two companies to stop. Apple is notorious for imposing a strict Non Disclosure Agreement (NDA) on its employees as well as its partners. In the past,’GT Advanced Technologies’, which was Apple’s display partner, put a clause in the contract stating that every time one confidentiality contract was broken, the contract had to ask for 50 million dollars (about 55.9 billion won), and the company had to go bankrupt.

Bloomberg News, citing a recent source, reported that discussions between Apple and Hyundai Motor Company and Kia were recently stopped. The source also revealed that Apple has recently discussed similar plans with other automakers in addition to Hyundai and Kia. The news agency said that Apple, which kept its development project secret for several years, would have been angry with Hyundai Motor’s January announcement and media reports, and it is unclear whether the discussion will resume or, if so, when it will be.

◆ Chung Mong-koo and Jeong Eui-seon stock value plunged 800 billion won… “Aftermath of the suspension of Apple Car negotiations”

In the aftermath of the suspension of discussions between Hyundai Motor Group and Apple’s self-driving car development, it was revealed that the value of shares held by Emeritus Chairman Chung Mong-koo and Chairman Eui-seon Eui-sun of the group also plunged. According to Jaebeol.com on the 9th, as of the closing price of the previous day, the value of the shares of the four listed companies of the group held by Honorary Chairman Chung Mong-koo was KRW 5.93 trillion. This is a decrease of 441.8 billion won (6.9%) from 6.43 trillion won as of the 5th.

Honorary Chairman Chung Mong-koo owns Hyundai Motor Company (5.3%), Hyundai Mobis (7.1%), Hyundai Glovis (6.7%), and Hyundai Steel (11.8%).

The value of the shares of publicly traded companies owned by Chairman Eui-sun Eui-sun also decreased by KRW 422.1 billion (9.0%) from KRW 4,481.4 billion on the 5th to KRW 4.79 trillion on the previous day. Chairman Eui-seon Eui-sun of Hyundai Motor Company (2.62%), Kia (1.74%), Hyundai Glovis (23.29%), Hyundai Mobis (0.32%), Hyundai Wia (1.95%), INNOCEAN (2.00%), Hyundai Autoever (9.57%) And Hyundai Motor Company’s preferred stock (298 shares, 0.00%). In the news of the suspension of negotiations for the development of Apple Car, the value of shares held by the two chairmen of the group’s listed companies decreased by 8438 billion won in one day.

◆ Reorganized short selling, planned to operate a lending trading system to block unborrowed short selling

The Korea Securities Depository has announced that it will establish a prevention system that blocks non-borrowing short selling at the source.

Securities Depository said at this year’s New Year’s press conference held online on the 8th that this year’s management goal was’digital financial innovation with the market’ as a major business plan this year ▲Support for enhancing transparency in the private equity market ▲Establish a platform to support adventure investment ▲ He added that it will promote the establishment of a loan transaction contract confirmation system.

First of all, the KSD plans to establish a loan transaction contract confirmation system to support the government’s policy to improve the short selling system to prevent non-borrowing short selling. The system will be operated first for domestic investors on March 8. Foreigners are planning to develop a system so that foreigners can participate in the second half of this year after supplementing this part because the authentication method for fund transfer and payment is different.

◆ Jeungsun Committee, Lime Fund Sales Securities Firms Determined Fines… CEO disciplinary pressure tactile

It was decided on the 8th after repeated discussions on measures to impose fines on securities companies selling Lime Asset Management Funds. As a result, institutional sanctions against the securities companies and personal sanctions against former and current CEOs will be discussed at a regular meeting of the Financial Services Commission in the future along with fines. The next meeting of the FSC is scheduled on the 17th, but it is still unknown whether the agenda will be proposed on that day.

The Securities and Futures Committee under the Financial Services Commission concluded the second extraordinary meeting on the 8th and decided to impose fines on three related securities companies (Shinhan Financial Investment, Daishin Securities and KB Securities), including the Lime Fund. “I will inform you that it is.”

The measure to impose the penalty was first discussed on November 25 last year by the Jeung-seon Committee, but there was no conclusion. Since then, as a corona 19 confirmed person came out from the Financial Supervisory Service, the committee was postponed, and the discussion was stopped due to the difficulty of face-to-face reporting and the agenda was not proposed.

Then, about two months later, it was discussed at the Jeungseon Committee on the 20th of last month, but there was no conclusion. Sanctions against securities companies selling lime funds have resumed in earnest as a fine for negligence has been resolved by the increase committee. In the future, at regular meetings of the Financial Services Commission, institutional sanctions against these securities companies and individual sanctions against former and current CEOs will be deliberated along with fines.

◆ Innovative advocacy Toss sortie, stock prices bleeding competition imminent… Expert “just UI improvement”

With the official launch of Toss Securities, the first mobile trading system (MTS) tailored to the eye level of novice investors was unveiled. Excluding all difficult-to-understand information, financial information is visualized and provided, creating a user environment (UI) for intuitive investment. Background of bleeding competition with small and medium-sized securities companies such as Kiwoom Securities, where targets overlap, is predicted.

However, existing industry officials expressed concern about the innovation that Toss Securities has put forward. It is evaluated that it is more like a’stock e-commerce’ simply buying and selling stocks, excluding information necessary to determine the cause of stock price fluctuations. The acquisition of loyal customers is also uncertain. The longer you invest in stocks, the greater the demand for information to diagnose the causes of stock fluctuations, but it may be difficult to respond to them in the future.

Toss Securities announced its official launch on the 3rd and released MTS to the outside for the first time. Toss Securities’ MTS ▲Search for related items (CJ CheilJedang) when searching for a familiar brand name (Bibgo) ▲Easy to buy and sell buy and sell, etc. It has three main features, such as intuitive design.

◆ Morgan Stanley oversees the sale of Yogiyo

Delivery Hero (DH) selects Morgan Stanley as the sales organizer and begins a full-scale sale.

According to the investment finance industry on the 9th, DH immediately began to select the selling company after receiving the resolution of the Fair Trade Commission on the 3rd. The sale of DH Yogiyo is expected to speed up as the date of receipt of the resolution is the effective date of the corrective order with a six-month period. In the sale of Yogiyo, private equity funds, including large domestic distributors, are expected to show interest.

Morgan Stanley is in charge of not only Yogiyo but also the sale of eBay Korea.

◆ Hyundai Heavy Industries Holdings signed a main contract to acquire Doosan Infra Core

Doosan Heavy Industries & Construction signed a main contract to sell Doosan Infracore to the Hyundai Heavy Industries Holdings Consortium. It has been 16 years since Doosan Heavy Industries & Construction acquired Daewoo General Machinery in 2005 and changed its name to Doosan Infracore.

During this period, it is analyzed that the Doosan Group has maximized the profits of M&A trading by separating and selling several business groups of Doosan Infracore.

It is a method of buying whole and cutting it into small pieces. The remaining schedule is to separate Doosan Bobcat shares from Doosan Infracore.

◆ Stock prices, interest in stocks added to MSCI index in February

Investors are paying attention ahead of the announcement of the results of the MSCI (Morgan Stanley Capital International) quarterly review in February.

New stocks are expected to increase in share price as passive payments flow in. Securities prices are forecasting that there is a possibility that the Green Cross will be incorporated while the extent of this change is not so large.

According to the securities industry on the 8th, MSCI announced new additions and deletions according to the February quarterly review on the morning of the 10th (Korean time). The market cap and current market cap will be used as key criteria and will be reflected in the actual index on the 26th of this month.

◆ “Only 10 companies like Tesla”… Hong Kong stock market capital inflow surge

The Hong Kong stock market is on fire. As the US-China conflict intensified last year, the prospect that foreign funds will escape is unclear. It is analyzed that Hong Kong’s position as an Asian financial hub is paradoxically strengthening. In January this year, the Hong Kong stock market reached the highest point in the last 20 months. The trading volume also changed the previous record. Funds are rushing to the Hong Kong stock market. Changes in the international situation and rapid growth of Chinese companies are the causes.

When looking at the flow of investment in China, the analysis is usually divided into two. First, foreign investment funds flowed through the Hong Kong Stock Exchange into mainland A shares (listed stocks in mainland China) through’North Korea’s money’, while’Southern Capital’ flows into the Hong Kong stock market through Shanghai and Shenzhen exchanges in mainland China. It refers to the investment funds in mainland China. These two capital flows can be used to determine the flow of investment in China, but the biggest trend in recent years is that the South Korean capital is increasing rapidly.

It is also positive that the conclusion of an investment agreement between China and the EU that has lasted more than 7 years. As the EU’s access to China increases with the conclusion of this investment agreement, it is predicted that the departure of foreign investors, which was concerned, is not as big as the worry.

◆ “S&P500 investor investing in cryptocurrency?”… Tesla Bitcoin trading aftermath

It was pointed out that as Tesla, an electric car in the United States, bought a cryptocurrency of $1.5 billion (about 1.6 trillion won), the standard index of the New York Stock Exchange Standard & Poor’s (S&P) 500 was also exposed to the volatility of the roller coaster level of Bitcoin.

Bloomberg News reported on the 8th (local time) that Tesla bet $1.5 billion on Bitcoin and the S&P 500 index indirectly included Bitcoin. Tesla’s bitcoin purchase explains that index fund investors who follow the S&P500 index eventually invested in bitcoin, which is notorious for its record-breaking volatility.

Tesla, which was incorporated in December last year, accounts for almost 2% of the S&P 500 index, which has a significant impact. The problem is that Bitcoin is notorious for its extreme volatility, repeating its boom and bust. At the beginning of 2013, bitcoin surpassed $1,000 in December of that year from the $13 level.

Since then, it started at $1,000 in 2017, reached $20,000, and fell to $4,000 in early 2020. And according to Tesla news, Bitcoin surged 12% to close to $45,000, breaking an all-time high.

In addition, the average daily fluctuation of bitcoin is 5.2%, which is considerably higher than the fluctuation of 0.8% of gold, which is evaluated as an asset equivalent to bitcoin. In addition, Bloomberg points out that it is still difficult to use like currency and can be vulnerable to hacking and fraud.

【Youth Daily = Reporter Kang Jeong-wook】