American semiconductor company NVIDIA announced earnings that exceeded market expectations. SK Hynix showed strong performance by breaking a new record price, but Samsung Electronics had mixed emotions, finishing at a weak level.
Initially, there were many voices in the market that NVIDIA’s performance would have a significant impact on the domestic stock market. However, it is assessed that the impact on the stock market has been minimal due to the advance reflection of semiconductor stocks that has continued since the end of last year.
According to the Korea Exchange on the 22nd, KOSPI closed at 2664.27 (0.41%) on this day. Individuals seeking to realize profits sold net 273 billion won, but foreigners and institutions net bought 163.4 billion won and 74.7 billion won, respectively.
Among stocks with high market capitalization, semiconductor stocks and low PBR stocks led the stock market. Within the semiconductor industry, the joys and sorrows of first and second place in market capitalization were mixed.
SK Hynix recorded a 52-week high, up 5.03% to 156,500 won, while Samsung Electronics gave up most of the early trading gains and closed at 73,100 won, up 0.14%. Most semiconductor stocks, including Hanmi Semiconductor (6.70%), showed strength. In addition, low PBR stocks such as Hyundai Motors (1.67%) and Kia (2.14%) closed strongly.
On this day, the domestic stock market received the market’s attention on Nvidia’s performance announced the previous day.
Nvidia announced on the 21st (local time) that it recorded sales of $22.1 billion (KRW 29.5035 trillion) and net profit per share of $5.15 (KRW 6,875) in the fourth quarter of last year. This represents a 265% increase in sales compared to the previous year, exceeding market expectations. NVIDIA, whose stock price fell in the previous two trading days ahead of the earnings announcement, soared by more than 7% in after-hours trading after the earnings announcement.
As a result, there were many observations that it would have an impact on the stock prices of domestic semiconductor stocks ahead of the opening, but it was evaluated that the impact on the stock market was less than the market expected.
A researcher at a securities firm said, “We expected the impact of Nvidia’s earnings announcement on the domestic stock market to be quite high, but the impact on the market was not as big as expected. This is because the strong performance of domestic semiconductor stocks has already been reflected in stock prices since the end of last year.”
What attracted attention in the stock market that day, other than semiconductors, was the ex-dividend issue of financial holding companies. According to the Financial Supervisory Service’s electronic disclosure, the four major financial holding companies will all meet the record date (dividend record date) for closing the shareholder register for dividends at the end of this month. Shinhan Financial Group is on the 23rd, Hana Financial Group on the 28th, and KB and Woori Financial Group on the 29th.
In addition to the fact that major financial holding companies decided last year’s dividend calculation date at the end of February for the first time this year, the stock prices of financial holding companies have recently risen significantly due to the government’s low PBR stock policy. Accordingly, there were concerns about an ex-dividend due to the sale of shares for profit taking ahead of Shinhan Financial Group’s dividend payment scheduled for tomorrow.
Despite these concerns, Shinhan Financial Group closed at 42,600 won, down 1.05%. This figure has made up for most of the stock price drop in the early trading period. Accordingly, there is speculation in the market that the wait-and-see attitude toward low PBR stocks, including financial stocks, will continue until the government’s ‘Corporate Value Up Program’ policy, which is scheduled to be announced on the 26th.
Lee Gyeong-soo, a researcher at Hana Securities, said, “There are quite a few companies that are about to go ex-dividend from this week to next week, but despite this, the market continued to buy stocks due to expectations of the value-up program.” He added, “The index rise today was due to the strength of SK Hynix due to the strong performance of Nvidia “It was a day where rising stocks were concentrated in low PBR stocks,” he said.
2024-02-22 08:02:00
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