In today’s briefing:
- A Crash in 8 Korean Stocks Related to CFD Derivatives: Margin Call in Korea
- Hyundai Motor: Highest Operating Profit Among All Korean Companies in 2023
A Crash in 8 Korean Stocks Related to CFD Derivatives: Margin Call in Korea
- The biggest story in the Korean stock market in the past three days has been the crash in 8 stocks related to CFD derivatives.
- As a result of the CFD related margin call selling, the following are the major impact on the 8 related stocks and the overall Korean stock market in our view.
- They include a) overshooting on the downside on 8 related names, b) negative impact on the major rechargeable battery names, and c) negative impact on the overall Korean stock market.
Hyundai Motor: Highest Operating Profit Among All Korean Companies in 2023
- We discuss the importance of Hyundai Motor generating nearly 11.5 trillion won in operating profit in 2023, which is likely to be the highest among all Korean companies.
- Hyundai Motor and Kia Corp combined are expected to generate operating profit of 20.7 trillion won in 2023, representing 57% of total operating profit of the top 10 Korean companies.
- In 2023, Hyundai Motor plans a full-scale world-wide roll-out of its EV Ioniq 6. Furthermore, it set a dividend payout ratio at 25% or higher.
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