KOSPI Hits Another All-Time High... Will It Reach 3,500 This Year? [3-Minute Brief]

[At a Glance]
① Highest level in 45 years... KOSPI expected to reach 3,500 within the year
② Despite record highs, retail investors rush into inverse bets on KOSPI
③ After a 1%p rate cut... those in their 20s and 30s and high-income earners benefit most

MARKET INDEX : Year to date

○ New York Stock Exchange: Rapid cooling in employment and stable CPI make rate cuts a foregone conclusion

○ U.S. August new jobs figure is only one-third of expert forecasts

○ August CPI up 2.9% year-on-year, in line with expectations

Top 3 NEWS

■ KOSPI breaks through the ceiling, expected to reach 3,500 within the year

○ Heads of research centers at major securities firms share outlook for the stock market after all-time highs
○ Most predict the KOSPI will range between 3,100 and 3,500 this year
○ Some forecasts go as high as 3,600... further gains possible by year-end

■ "Looking for quick profits" - bold retail investors board leveraged inverse ETFs even as KOSPI hits record highs

○ Retail investors in "beast mode" - leveraged inverse ETFs top net purchases as bets on market declines double
○ Suggests expectations of a correction after a sharp short-term rally
○ Record-high balances in securities lending and short selling also add pressure

■ After a 1%p base rate cut... high-income earners and those in their 20s and 30s benefit most from interest savings

○ Korea Customs Service releases export-import figures for September 1-10
○ Semiconductor boom boosts exports to Vietnam and Taiwan
○ U.S. exports sluggish due to tariff impact

Graphic News: Discrimination in policy loans despite mandate for inclusive finance

○ Saemaeul Geumgo and credit unions with nationwide branch networks

○ Policy loan performance lower than regional or internet banks

○ The same applies to mortgage loan regulations

the Chart: Goodrich, the "cash cow," and MG Insurance, the "troublemaker"... the future of JC Partners' insurance M&A

○ JC Partners seeks to sell Goodrich, a profitable general agency

○ Separation of manufacturing and sales accelerates, increasing industry interest in general agencies

○ MG Insurance, up for sale for the sixth time, receives a lukewarm response from the market

Today's Key Schedule

○Domestic

○International

11:00 China Fixed Asset Investment (YoY) (August)

11:00 China Unemployment Rate (August)

15:00 Germany Wholesale Price Index (MoM) (August)

15:30 Switzerland Producer Price Index (MoM) (August)

21:30 U.S. New York Empire State Manufacturing Index (September)

21:30 Canada Wholesale Sales (MoM) (July)

◇ Weather at lunchtime & after work

○ Lowest temperature: 22°C (▲2°C) | Highest temperature: 30°C (0°C)
○ Precipitation probability: 30% in the morning | 0% in the afternoon
○ Fine dust: Good in the morning | Good in the afternoon

Everything you need to know about the economy in just 3 minutes. Published daily at 8 a.m.