[Market Focus] Mirae Asset Securities Rises for Seventh Straight Day...Hits Record High

Mirae Asset Securities continued its upward trend for the seventh consecutive day, reaching a new 52-week intraday high.

As of 9:14 a.m. on April 23, Mirae Asset Securities was trading at 10,300 won on the Korea Exchange, up 340 won (3.41%) from the previous day. During the session, the stock rose to as high as 10,380 won, setting a new 52-week high.

Consistent institutional buying has been driving the share price higher. Institutions have been net buyers of Mirae Asset Securities for seven consecutive trading days.

Positive expectations for the company's first-quarter earnings this year also appear to be having a favorable impact on the stock price. Jang Youngim, a researcher at Hyundai Motor Securities, stated, "Mirae Asset Securities' first-quarter net profit attributable to controlling shareholders is expected to reach 254 billion won, up 54.7% year-on-year and slightly above the consensus (the average of securities firms' forecasts). Operating profit is expected to drive growth this quarter. Dividend and distribution income are increasing, pre-IPO valuation gains from overseas investments are being realized, and valuation gains on investment assets are improving."