[Featured Stock] European Financial Turmoil... KakaoBank Drops Over 3% in Early Trading

On the morning of the 27th, KakaoBank's stock price showed a decline of over 3%, indicating a weak trend.

As of 10:25 AM that day, KakaoBank's stock price was trading at 24,050 KRW, down 3.02% compared to the previous trading day.

This is interpreted as a ripple effect following the recent bankruptcy of the U.S. Silicon Valley Bank (SVB) and the crisis rumors surrounding Deutsche Bank, Germany's largest bank, on the 24th (local time). The 5-year credit default swap (CDS) premium on Deutsche Bank's bonds surged above 220 basis points (bp), highlighting the risk of default.

However, the stock prices of the four major domestic financial holding companies?Shinhan Financial Group (0.72%), KB Financial Group (-0.32%), Woori Financial Group (-0.09%), and Hana Financial Group (-0.12%)?remained steady.