Tightening Is Ending, But the Stock Market Remains Uneasy [3-Minute Brief]

[At a Glance]
① Last Month's Residential Electricity Usage Hits Record High
② Is Inflation Really Falling? Why It’s Hard to Feel the Change
③ 'Miracle Diet Pill' Set to Land in Korea Soon

MARKET INDEX

Tightening Is Ending, But the Stock Market Remains Uneasy [3-Minute Brief]

- US New York Stock Exchange's three major indices closed higher

- Overall market improvement due to bargain buying inflows

- Awaiting this week's final major indicator, CPI

TOP 3 NEWS

■ Last month’s residential electricity usage hits record high… rates up 13%

- Record-breaking heatwave caused a 76% increase in total electricity bills
- 190,000 'super users' consumed over 1000kWh
- KEPCO states "Electricity saving efforts limit rate hikes"

■ Is inflation really falling? Why it’s hard to feel the change

- Consumer price inflation rate clearly slowed to 2%
- Living costs remain high, making it hard for the public to feel relief
- Structural factors cause living costs to be higher than in other countries

■ Despite US ending 'tightening era' this month… market anxiety spreads

- Even with the first rate cut in 4 years this month
- Wall Street expects S&P 500 index to rise 1% by year-end
- Worsening recession indicators like employment data weigh on investor sentiment

the Chart : Samsung Electronics Stock Price Trend

- Target price lowered to 95,000 KRW… 'Buy' rating maintained considering upside potential

- Weak smartphone and PC sales in Q3… conservative purchasing expected in second half

- Tight supply estimated in second half… D-RAM demand polarization to worsen

Money-Making Law

■ Took someone else’s umbrella by mistake but got a non-prosecution…

- "Mistook victim’s umbrella for mine"… filed constitutional complaint
- 62 years old, memory decline from 4 years ago, with neurology check-up history
- Non-prosecution cancellation accepted due to difficulty proving theft intent
☞Read article: https://www.asiae.co.kr/article/2024090915073138799

■ In-laws gifted daughter-in-law before husband’s death: "Husband’s special benefit"

- Court: "If daughter-in-law’s gift is no different from child’s gift, it is recognized as special benefit"
- Husband with terminal bile duct cancer needed surgery and treatment costs… gift given for financial help
- Both first and second trials ruled no shortage in daughter-in-law’s statutory share
☞Read article: https://www.asiae.co.kr/article/2024090915091645736

■ Canada’s 'legalization of assisted dying' process… applicable to Korea?

- Canadian medical assistance in dying expanding to include mental illness patients
- Law enacted after Supreme Court ruling affirming right to discontinue life-sustaining treatment
- "Supreme Court’s unconstitutional ruling led to legalization of assisted dying"
☞Read article: https://www.asiae.co.kr/article/2024090915105458579

※ 'Money-Making Law', a content partnership corner between Asia Economy and Legal Newspaper, is published every Tuesday and Thursday.

Terms in the News: 'Miracle Diet Pills' Nearing Korean Launch

Danish pharmaceutical company Novo Nordisk's type 2 diabetes treatment 'Ozempic'
[Image source=AP Yonhap News]

- Type 2 diabetes treatment 'Ozempic' and obesity treatment 'Wegovy' launching in Korea

- Semaglutide stays longer in the body, inducing satiety and suppressing appetite

- Superior effects and easier usage compared to top obesity drug 'Saxenda'

Today’s Key Schedule

○ Domestic

10th: KOSDAQ KB No.30 SPAC subscription, public offering price 2,000 KRW

10th: KOSDAQ Kiwoom No.9 SPAC subscription, public offering price 2,000 KRW

10th: KOSDAQ Iron Device subscription, public offering price 7,000 KRW

Gyeonggi Hills State Icheon Station (Complex 2)

Gyeonggi Hills State Icheon Station (Complex 1)

Seoul Olympic Park Seohan Forest

Seoul Yeonsinnae Yangwoo Naean A Prestige

Gyeongnam Gimhae Daecheongcheon Apt

Gwangju Taejeon Gyeongnam Honorsville Limited

○ Overseas

01:30 US Atlanta Fed GDPNow Q3

10:00 China August import data

15:00 UK July average earnings

15:00 Germany August consumer price index

20:00 OPEC monthly report

◇ Lunch & Commute Weather

○ Lowest temperature 25℃(▲1℃) ｜ Highest temperature: 34℃(▲1℃)
○ Precipitation probability morning 30%｜afternoon 10%
○ Fine dust morning moderate｜afternoon moderate