[아주증시포커스] Kospi cheered up with the’white cow’… ‘Three thousand blood’ strides to the nose

[사진=아주경제]

◆Very Economic News

▷’White cow’ cheered Kospi… ‘Three thousand blood’ strides to the nose

-Kospi shows’bull rally’ from the first trading day of the new year and approaches the 3000 line

-Closed at 2944.45, an increase of 70.98 points (2.47%) from the previous trading day, again breaking an all-time high based on the closing price.

-Individual investors net purchase 1.28 trillion won on that day and lead the securities market on the first trading day of the new year following last year.

-The transaction value reached a record high of 24,726.6 billion won, and the market capitalization also increased to 2028 trillion 644 billion won, exceeding 2000 trillion won.

-With’Three Thousand P'(KOSPI 3000)’ approaching, the KOSPI forecasts of major securities firms’ research centers have been raised.

-Samsung Securities raised the scope of the KOSPI projected fluctuations due to the cyclical recovery of corporate performance, strengthening global reflation trading momentum, and establishing a virtuous cycle of supply and demand for foreigners and individual investors.

◆Main Report

▷​”Hyundai E&C, target price ↑ for earnings improvement this year” [한화투자증권]

-Raise the target price from 45,000 won to 51,000 won and maintain Buy rating.

-“It is estimated that the order backlog as of the end of last year has increased by about 20% compared to the end of the previous year, thanks to the record of the largest urban renovation orders since its inception.

-“It is attracting attention as we are promoting construction business expansion in various fields such as hydrogen, wind power, solar power, data centers, smart farms, and smart cities, along with super-large overseas orders.”

-As for the stock price, the 12-month forward stock price net asset ratio (Fwd P/B) 0.57 times, the stock price-to-earnings ratio (P/E) 9.7 times, and the company value based on the stock price/earnings ratio (PBR) has decreased compared to competitors.

◆Major announcement after closing (30 days)

▷Daehan Electric Wire announces that outside director Park Jang-ho will resign due to personal reasons.

▷ Daelim Industrial announces that the system will change from the director system of each representative director of Kim Sang-woo to the independent representative director of Bae Won-bok.

▷Hyundai Motors announces that it will suspend automobile manufacturing at its Jeonju plant until the 11th.

▷Youngpoong announces that the Seokpo smelter will be suspended from April 1st to May 31st due to administrative dispositions for violation of the Water Environment Conservation Act.

▷KG Dongbu Steel announces that the selection of the preferred bidder for the sale of KG Dongbu Steel’s electric furnace reported in 2019 by the media is undecided.

▷Hyundai E&C announces that it will stop manufacturing steel pipes and lightweight products at the Ulsan plant from the 4th to the 11th.

▷ Jangwon Tech announces that the conversion price of unconverted bonds worth 3 billion won will be adjusted from 2264 won to 1506 won according to market price decline.

▷K-Mac announces that it is exercising the right to claim conversion for privately funded bonds with a 1 billion won worth bearer.

▷UCI announces that the conversion price of unconverted bonds worth KRW 20 billion will be adjusted from KRW 2441 to KRW 2275 due to market price decline.

▷ Samjin L&D announces that it has decided to dispose of 1.5 million treasury stocks in order to finance investment in new business.

◆Today (5th) main schedule

▷USA

-December ISM manufacturing (57.5), employment (48.4)

▷Eurozone

-November M3 currency supply

▷Japan

-December main call