[Market Focus] Mirae Asset Securities Surges Over 10% on Surprise Q4 Earnings Outlook...Hits Record High

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

As of 10:23 a.m. on January 6, Mirae Asset Securities was trading at 28,100 won on the Korea Exchange, up 2,600 won (10.20%) from the previous day. During the session, the stock rose as high as 28,600 won, setting a new 52-week high.

The rise in share price is attributed to the effects of the company's investment in SpaceX and expectations of a surprise earnings performance in the fourth quarter of last year.

On this day, SangSangIn Securities predicted that Mirae Asset Securities would post a surprise earnings result in the fourth quarter. Kim Hyunsoo, a researcher at SangSangIn Securities, stated, "Until the third quarter of last year, the valuation of SpaceX, estimated at 350 billion to 400 billion dollars, was reflected on the books, but the key is the quantum leap in valuation expected to materialize in the fourth quarter, reaching 800 billion dollars (about 1,120 trillion won). As the company's value more than doubles in a short period, the value of Mirae Asset's stake is projected to surge vertically from about 600 billion to 700 billion won at the end of the third quarter to between 1.3 trillion and 1.5 trillion won at the end of the fourth quarter. The resulting large-scale valuation gain of over 700 billion won is expected to more than offset the typical seasonal cost burden of the fourth quarter, making a surprise earnings result highly likely."

Yoon Yudong, a researcher at NH Investment & Securities, said, "We estimate that Mirae Asset Securities' consolidated net profit attributable to controlling shareholders in the fourth quarter will reach 375.6 billion won, up 59.9% year-on-year and exceeding the consensus (the average forecast by securities firms)," adding, "This is the result of a booming securities market combined with the growth of innovative companies in which the company had previously invested."