New York Stock Exchange, US Trade Negotiations Dow 0.70% ↑

In the New York stock market, major indexes climbed as IT giants rallied to watch trade talks between the United States and China.

On the New York Stock Exchange (NYSE) on the 4th, the Dow Jones industrial average fell 175.48 points, or 0.70 percent, to 25,539.37.

The Standard & Poor’s 500 index gained 18.34, or 0.68 percent, to 2,724.87. The tech-heavy Nasdaq composite index finished 83.67, or 1.15 percent, at 7347.54.

The mayor paid attention to major corporate results, President Trump’s state speech on the next day, and news related to the US-China trade negotiations.

Two of the listed companies outperformed the market expectations As the listed companies’ earnings announcement in the fourth quarter of last year (earning season) is on the way to mid-level, one of the companies that have announced their earnings so far is showing ‘earnings shock’.

According to FfGuide, a financial information company on the 5th, 83 companies listed earnings (consolidated financial statements) by the end of January among listed companies with 3 or more earnings estimates of securities firms. Of these, 55 companies (66.3%) were below the market consensus. In particular, 44 companies (53.0%) had earnings shocks (operating loss increased by 10.8% or more) and operating profit fell below 10%.

As a result, one of the two listed companies that posted 4Q05 earnings is ‘earnings shock’. SK Innovation expects SK Innovation’s 4Q operating loss at W3.9bn, but SK Innovation announced at the end of January that its operating deficit reached W278.8bn.

The deficit is 71 times the market forecast. The company said that oil prices plunged and product margins weakened as a large-scale deficit. Hyundai Heavy Industries also posted an operating loss of KRW230 billion, 5.3 times the market consensus due to lower sales, higher fixed cost burdens, delayed shipbuilding price hikes and higher raw material prices.

HYUNDAI ROTEM, whose initial operating profit was estimated at W9.5bn, incurred an operating loss of W212.9bn due to higher fixed cost burden due to lower sales and higher overseas plant business costs.

LG Electronics posted operating profit of W75.7bn, less than one-fifth of its expectations, due to sluggish smartphone business and increased marketing expenses at year-end.

Samsung Electronics and SK Hynix, the top two companies with market capitalization, were included in the list of earnings shock companies with operating profit down 19.3% and 13.0% respectively due to the semiconductor industry plunge. In addition, operating profit fell short of expectations for Korean Air (-65.5%), Amorepacific (-61.9%), Hyundai Motor (-36.3%), SK Telecom (-23.1%) and LG Chem (-18.5%). On the other hand, only 28 companies (33.7%) listed listed companies whose operating profits exceeded market consensus.

Twelve companies (14.5%) were in the ‘surprise surprise’ category, whose operating profit exceeded the market consensus by more than 10%. Samsung Life Insurance (223.9%), LG Display (97.2%), Hyosung (53.4%), Hanmi Pharm (50.3%), SK Networks (12.4%) and Hyundai Mobis (12.0%). Lee Young-gon, a researcher at Hana Financial Investment Research Institute, said, “The market has lost much of its eyesight, but it has failed to meet that demand.” The slowdown in the information technology (IT) “He said. He added, “Market expectations for this year’s performance are dropping rapidly.” With some companies’ earnings targets coming up, expectations for the market are being revised downward, and this trend will continue for the time being. ” ◇ Difference between 4Q04 OP and actual figures (Wbn,%)

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