'Low Birthrate Direct Hit' Worst Crisis for Formula Milk Companies [3-Minute Brief]

[At a Glance]
① USD/KRW Exchange Rate Hits 5-Month Low on US Interest Rate Cut Expectations
② Despite AI Bubble, "NVIDIA Q2 Performance Expected to Be Strong"
③ "Yolo Is Over" Customers Enthusiastic About Cost-Effectiveness

MARKET INDEX : Year to date

- US New York Stock Exchange's three major indices all closed lower
- After an 8-trading-day rally, the market seems to have entered a wait-and-see mode
- 'Yeongkkeul' again... Household debt rises after one quarter

Top3 NEWS

■ As expectations for US interest rate cuts grow… Won-Dollar exchange rate hits lowest in 5 months

- Won-Dollar exchange rate lowest since mid-March
- Expectations of US base rate cuts weaken the dollar
- Dollar exchange rate expected to stabilize downward by year-end

■ Despite AI bubble controversy, Wall Street says "NVIDIA will show strong Q2 earnings"

- Stock price recovers to $130… regains 2nd largest market cap
- Market attention focused on Q2 earnings announcement
- Goldman: "Strong Hopper despite Blackwell delay"

■ "Yolo party is over" Consumers enthusiastic about cost-effective products

- Rising prices increase the number of practical consumers who buy only what they need
- Orion's domestic strategy for the second half: '1000-won snacks'
- 1000-won beer and tofu appear in marts and convenience stores

Graphic News: One year since HyperCLOVA X launch… Gap with big tech widens

- Falling behind overseas big tech… proportion of R&D expenses also decreasing
- Performance limitations discussed… multimodal technology criticized as insufficient
- Has not reached human-like AI level, capital strength is key

the Chart: Dairy industry facing survival crisis due to low birthrate

- In the ultra-low birthrate era, demand for infant formula plummets… production volume of formula milk collapses
- Reduced proportion of formula milk sales through new products, but milk sales remain sluggish
- Target shifted to adults… diversification into health functional foods and nutritional supplements

Person in the News: Joseon astronomer 'Nam Byeongcheol'… First Korean name engraved on the moon

- IAU grants a Korean name for the first time

- Top-level astronomer of the late Joseon period

- Nam Byeongcheol's Honcheonui restored after about 170 years

Today's Key Schedule

○Domestic

06:00 July Producer Price Index

- July 21: KOSDAQ TDS Pharm listing, public offering price 13,000 won

- July 21: KOSDAQ Icecream Media subscription, public offering price 32,000 won

○Overseas
- 05:30 American Petroleum Institute weekly crude oil inventory
- 18:30 Germany 10-year Bund auction
- 23:30 Crude oil inventory

◇ Lunch & Commute Weather

○ Lowest temperature 27℃(0℃) ｜ Highest temperature: 30℃(▼6℃)
○ Precipitation probability morning 80%｜afternoon 80%
○ Fine dust morning good｜afternoon good

OK in 3 minutes, essential time-saving and cost-effective economic news. Published daily at 8 AM.