Sam Altman Teams Up with iPhone Legend, Developing AI Device [3-Minute Brief]

[At a Glance]
① US Share Buyback Boom Amid Interest Rate Cuts
② Last Year’s Public Sector Deficit Hits 46 Trillion Won
③ Seoul Apartment Sales Volume Slows Down

MARKET INDEX : Year to date

○ US New York Stock Exchange's three major indices all closed higher
○ Nvidia surged nearly 4%, improving investor sentiment
○ Some expect market volatility to increase going forward

Top3 NEWS

■ Interest rate cuts spark rising trend of US companies' share buybacks

○ "Next year, US large-cap companies' share buybacks expected to exceed $1 trillion"
○ S&P 500's share buybacks this year also projected at $925 billion
○ Companies tend to buy back shares more aggressively amid interest rate cuts

■ Altman teams up with 'iPhone' designer Ive to develop AI device

○ Sam Altman, CEO of OpenAI, developer of ChatGPT
○ Collaborating with former Apple Chief Design Officer Jony Ive
○ No specific details disclosed about the AI device under development

■ Public sector deficit of 46 trillion won last year... Deficit continues for 4 consecutive years

○ Corporate earnings weakened due to deteriorating domestic and external economic conditions last year
○ Deficit trend continues for 4 years, but deficit narrowed compared to 2022
○ Deficit reduction in non-financial public enterprises; financial public enterprises saw increased surplus

Graphic News: Renewed wait-and-see vs short-term impact... Direction of Seoul apartment buying trend

- Last month's sales volume dropped about 30%
- Loan regulations likely to further reduce transactions this month
- Interest rate cuts are key... possibility of transaction recovery

the Chart: Where is the end of semiconductor stocks' slump... "Real concerns about the industry will soon emerge"

- Foreign securities firms' sell reports worsen investor sentiment
- Possibility of continued correction if economic slowdown occurs remains
- "Micron's earnings are a variable... current risk is excessive"

Terms in the News: Where is the 'right to be forgotten' in deepfake crimes?

- First recognized in 2014 EU Court of Justice ruling
- South Korea lacks clear regulations but legal protection exists
- Telegram deepfake sexual crime investigations accelerating

Today's Key Schedule

○ Domestic

06:00 September Consumer Confidence Index

25th KOSDAQ KBJ30 SPAC listing, offering price 2,000 won

○ Overseas

05:30 American Petroleum Institute Weekly Crude Oil Inventory

14:00 Bank of Japan Core CPI

19:00 France August Total Job Seekers

23:00 US August New Home Sales

23:30 US Crude Oil Inventory

◇ Lunch & Commute Weather

○ Lowest temperature 18℃(▲2℃) ｜ Highest temperature: 28℃(▲1℃)
○ Precipitation probability 30% in the morning｜30% in the afternoon
○ Fine dust Good in the morning｜Good in the afternoon

OK in 3 minutes, essential time-efficient economic news. Published daily at 8 AM.