Samsung C&T shares rally on hopes of holding firm transformation

[THE INVESTOR] Shares of Samsung C&T, the fashion and trading arm of Samsung Group, continued to rally June 20 on expectations that it would benefit from the group’s ongoing corporate restructuring. Its shares closed at 122,000 won (US$105.04), up 2.09 percent from the last trading session on June 17 when it climbed 3.46 percent. “If Samsung C&T successfully transform itself as the holding company of Samsung Group, it will secure more than 20 percent of Samsung Electronics’ business units and ot

June 20, 2016

Seoul shares close higher on eased Brexit concerns

[THE INVESTOR] South Korean stocks closed higher on June 20 on eased concerns over the UK’s exit from European Union following a lawmaker’s murder. The benchmark Korea Composite Stock Price Index increased 27.72 points, or 1.42 percent, to close at 1,981.12. Trade volume was moderate at 385 million shares worth 3.9 trillion won (US$3.3 billion), with winners outnumbering losers 658 to 169. The KOSPI rose from the revived risk-on appetite after the latest Brexit polls showed voters favor Britain

June 20, 2016

M&A deals reshape local brokerage industry landscape

[THE INVESTOR] Mergers and acquisitions among midsized brokerages will continue to shape the securities industry in the second half of 2016, following mega deals signed by top local players earlier.After the big merger deals of Daewoo Securities and Hyundai Securities earlier this year and last year, M&A activities in the industry are expected to pick up due to deteriorating balance sheets. “Brokerage houses will come under growing pressure to drive growth through M&As as their growth woe worsen

June 20, 2016

Chinese operations expected to boost Hanmi Pharm

[THE INVESTOR] NH Investment and Securities maintained Hanmi Pharm’s target price at 1.1 million won (US$944) on June 20, saying that the pharma firm’s Chinese branch is expected to continue expanding. Hanmi Pharm opened at 660,000 won on the stock market June 20, up 10,000 won from June 17. According to NH Investment and Securities, Beijing Hanmi has recorded an average annual growth rate of 21.2 percent since 2006. Saying that Beijing Hanmi is expected to apply for clinical trials and licenses

June 20, 2016

Bad loans may put insurance firms at risk

[THE INVESTOR] Korean insurance companies’ financial status and profitability may take a blow following the industry-wide restructuring of shipbuilding and shipping sectors as corporate debts extended by insurers are on the rise, according to a local think tank’s report. “The size of corporate liabilities extended by insurance companies is only one-twelfth of banks’ lending but credit risks that they are taking can be relatively bigger,” said Jeon Yong-sik, a researcher at Korea Insurance Resear

June 20, 2016