[THE INVESTOR] South Korean brokerages are busy issuing forecasts on the local stock markets. Among them, Hyundai Securities says the benchmark KOSPI would bottom out at the 1,880 level following Britain’s latest decision to leave the European Union. Considering that some of the responses we are seeing may be excessive, and intertwined with political uncertainties, it would be reasonable to see the bottom at 1,880 points, which is about 0.98 times KOSPI’s PBR, according to a report compiled by K

[THE INVESTOR] Over 47 trillion won (US$40 billion) has been erased from the Korean stock market as Britain voted to leave the European Union on June 24. The combined market capitalization on the main KOSPI and tech-heavy KOSDAQ markets fell by 47.44 trillion won to 1,420.32 trillion won from a session earlier. It is the biggest drop since Nov. 10, 2011, when the market cap plunged by 57.22 trillion won. Market heavyweight Samsung Electronics plunged 2.1 percent. Hyundai Mobis fell 2.27 percent

[THE INVESTOR] Real estate trust company Korea Asset In Trust is set to go public on Korea’s benchmark KOSPI on July 13. “Through the initial public offering, the company will go beyond real estate trust business and become the No.1 real estate and finance company,” Kim Kyu-chul head of KAIT said at a press conference in Yeouido, Seoul, on June 24. Established in 2001, KAIT is the market leader in real estate trust companies in Korea. In the first quarter this year, the company recorded operatin

[THE INVESTOR] Analysts warned Britain’s vote to leave the European Union may further dampen Korean stock financial markets as panic gripped investors. On June 24, the country’s benchmark KOSPI shed 61.47 points, or 3.09 percent, to 1,925.24. Sidecar kicked in following the secondary KOSDAQ’s 6-percent plunge. Shocked investors dumped pounds, leading the value of sterling to slump to a 31-year low on currency markets. Other Asian markets including Japan’s Nikkei finished the day with big losses.

2Q estimates: sales of W3.76tr (+2.1% QoQ), OP of W445bn (-21.6% QoQ) Rebounding indicators, earnings to improve QoQ in 3Q ¨ Retain BUY for target price of W38,0002Q estimates: sales W3.76tr (+2.1% QoQ), operating profit W445bn (-21.6% QoQ)SK Hynix is forecast to post 2Q sales of W3.76tr (+2.1% QoQ, -18.9% YoY) and operating profit of W445bn (-21.6% QoQ, -67.7% YoY). We expect bit growth of 13% and ASP drop of 10%. Earnings should bottom out in 2Q. We expect operating profit of W549bn (+23.5% Qo