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  • Fixed Income Weekly - Mid- and long-term bond yields possess more room to decline

    Given the high probability of another base rate cut at the October MPC meeting, we predict that bond yields will continue to trend downwards until at least the start of 4Q14. Accordingly, we advise...

    2014-09-23 13:13
  • Holding Company 2Q Review

    We expect 2Q14 result would meet market consensus. Holding companies earnings momentum is improving except SK Holdings and GS Holdings (which holds refinery affiliates). Our Top pick is SK C&C and ...

    2014-07-21 13:57
  • Fixed Income Weekly-Instead of of supplementary budget, base rate will be cut twice

    We believe that bond yield will decline until at least the start of 4Q as two times of base rate cut is expected (in August and October). As such, we advise: 1) adding to long positions on each and...

    2014-07-21 13:46
  • Yield downtrend to continue after a short breather taking

    Given the attractive supply-demand conditions and the tepid economic recovery (slower than expected), we believe thatafter taking a short breatherthe yield downtrend will continue. As such, we ad...

    2014-06-02 16:53
  • Fixed Income Weekly-Investors need time to adapt themselves to the lowered yield level

    Given attractive supply-demand conditions and the tepid economic recovery (slower than expected), the yield downtrend should continue after the short breath taking. As such, we advise: 1) buying lo...

    2014-05-26 14:02
  • Consumer sector-Wallets remain closed

    Cosmetics the most attractive option The consumer spending slump continues. Although macroeconomic conditions raise the possibility of greater retail sales, there has been no sign of monthly imp...

    2014-05-08 13:50
  • SK Broadband 1Q14 review: Earnings below estimates, valuations a burden

    ▶ 1Q14 earnings missed both our estimates and the market consensus. Sales missed our estimate by 2.5% on weak IDC/solution sales. As such, OP and NP fell short of our estimates by 40.1% and 89.0...

    2014-05-02 13:43
  • Week in review: Small and mid caps regained edge

    - Last week, the Kospi rebounded to the 2,000pt mark. Expectations for China’s economic stimulus were undermined as 1Q14 GDP growth reached 7.4%, but concerns over a sharp economic slowdown eased...

    2014-04-21 13:28
  • Kospi likely to range between 1,930-2,000pt

    - Overall: Relative strength of small and mid-caps should steadily weaken. A notable issue for this week is whether short-term US Treasury yields turn more volatile given the correction by high-m...

    2014-03-31 17:18
  • Implications of foreign debt crises in emerging countries post-1980

    Commonalities in emerging countries’ experience with foreign debt crises Emerging countries embroiled in foreign debt crises post-1980 include Mexico in 1982 and 1994, Korea, Indonesia and Thai...

    2013-08-26 17:05
  • August IT strategy-Undervalued against global peers, but not yet time

    ▶ IT companies have mostly posted 2Q13 earnings, and the poor handset results at Samsung Electronics (SEC) have raised concerns about the handset parts sector. 1) Global handset demand has been wea...

    2013-08-02 13:37
  • Amid easing concerns, will Europe-related shares begin to shine?

    Eurozone to no longer burden global economy; signs of change observed  While concerns continue to linger over China’s economic recovery, the eurozone economy has recently been recovering, boosti...

    2013-07-15 16:54
  • Bond market to gradually gain ground

    Bond market to gradually gain ground Week in review: Bond market rallied as US exit strategy fears subside Last week, the bond market started by retreating as US Treasury yields jumped on strong...

    2013-07-15 16:50
  • Fixed Income Weekly-Hold flattened position until rate is cut

    Week in review: Strong bond market despite the rate freeze Last week, Korea’s bond market started flat with a downward bias due to the resurfacing of geopolitical risks related to North Korea. Ho...

    2013-03-18 16:15