Overseas Stocks and IB Drive Securities Firms' Net Profit Close to 7 Trillion Won [3-Minute Brief]

[At a Glance]
① Last year, 60 domestic securities firms posted a net profit of 6.987 trillion won
② US exceptionalism shaken... Dollar and stock market both on the decline
③ China Hang Seng Tech ETF surpasses 1 trillion won in net assets... Experts' perspectives

MARKET INDEX

○Trump: "Reciprocal tariffs, many countries may be exempted"

○Tech stocks surge on expectations of flexible tariff policies

○Focus this week on February PCE inflation and Consumer Confidence Index

TOP 3 NEWS

■ Last year, securities firms' net profit neared 7 trillion won... a 23% surge from the previous year

○Financial Supervisory Service announces 2024 securities and futures companies' business performance
○Balanced growth in trading gains/losses, overseas stock trading, PF, IB, etc.
○Small and mid-sized firms underperform... bad debt expenses surged 46.7% in one year

■ Dollar and stock market fall together amid tariff-induced recession concerns... "Trump intends US recession"

○Tariff anxiety spreads... Dollar and S&P down 4% since the start of the year
○Is the era of 'US exceptionalism' alone booming over?
○Wall Street claims "Trump wants a deliberate recession"

■ China Hang Seng Tech ETF surged a lot, is it worth investing?

○'Net assets 1 trillion' TIGER China Hang Seng Tech... up 89% since September 1 last year
○KODEX China Hang Seng Tech ETF rose 31.6% this year
○"Even if there is a correction due to rapid short-term rise, long-term upward trend continues"

Graphic News: April 2 Trump reciprocal tariffs likely to target US trade surplus countries including Korea

○Refinement of reciprocal tariffs

○Cars, pharmaceuticals, semiconductors, lumber, etc.

○Industry-specific announcements likely to be delayed

Profitable Law

■ "Church buildings held in name-trust cannot be considered income"

○Excluded from basic pension due to exceeding selection criteria amount, filed administrative lawsuit
○Court: "Name-trust only for facilitating financial institution loans"
○"Church is the actual owner... evidence recognized" plaintiff wins ruling

■ Upbit, '4 trillion won wash trading' commission revenue tax evasion? Possibility of 1.1 billion won corporate tax surcharge highlighted

○Dunamu side: "Used wash trading... no commission revenue recognized"
○If National Tax Service judgment is correct, pay 1.1 billion won corporate tax plus penalties
○Investigation also on suspicion of paying lawyers' fees for indicted executives

■ Last year, record high lawyer disciplinary actions

○Increased 4 times over the past 10 years... suspensions, fines, reprimands, etc.
○Significant increase in violations related to lawyer advertising
○Also violations of duty to maintain dignity and duty of diligence

Today's Key Schedule

○Domestic

06:00 Korea Consumer Confidence Index

KOSDAQ AU Brands subscription, fixed public offering price 16,000 won

KOSDAQ Korea PIM subscription, expected public offering price 9,300~11,200 won

○Overseas

08:50 Japan Monetary Policy Meeting Minutes

18:00 Germany Ifo Business Climate Index (March)

21:00 US Building Permits (February)

23:00 New Home Sales (February)

◇Lunch & Commute Weather

○ Lowest temperature 8℃(▼3℃) ｜ Highest temperature: 20℃(▲1℃)
○ Precipitation probability morning 30%｜afternoon 30%
○ Fine dust very bad in the morning｜bad in the afternoon

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