Base Rate Held Steady for Fifth Consecutive Time Amid Concerns Over Exchange Rates and Real Estate [3-Minute Brief]

[At a Glance]
① Bank of Korea keeps base rate at 2.50% for the fifth consecutive time amid concerns over exchange rates and housing prices
② Samsung Electronics and SK Hynix lead the rally... Market capitalization of the top 10 conglomerates surges in the bullish market
③ While Kim & Chang dominates with 1.7 trillion won, the 'Big 4 law firms' also enter the era of 400 billion won in annual revenue

MARKET INDEX : Year to date

○The New York Stock Exchange rallied across the board, led by strong performances in semiconductor and financial stocks.

○Semiconductor stocks rose on the back of TSMC's earnings and investment plans.

○Financial stocks with surprise earnings and small-cap stocks sensitive to the economic cycle also performed strongly.

Top 3 NEWS

■ "Concerns over exchange rates, housing prices, and inflation" - Base rate held steady in January, with expectations for a prolonged period

○On the 15th, the Bank of Korea's Monetary Policy Board kept the base rate unchanged at 2.50% per annum.

○Despite efforts by the foreign exchange authorities, the exchange rate again rose to the high 1,400 won range.

○The decision considered persistent expectations for real estate, inflationary pressure from the high exchange rate, and other factors.

■ In a bullish market, the market capitalization of the top 10 conglomerates has already increased by 350 trillion won this year

○The combined market capitalization of the top 10 conglomerates reached 2,668 trillion won.

○This represents an increase of more than 350 trillion won compared to the end of last year.

○The combined market capitalization of Samsung and SK Group alone increased by 200 trillion won.

■ Excluding Kim & Chang, all of the 'Big 4 law firms' have reached annual revenue of 400 billion won

○All of the Big 4 law firms saw revenue growth, with their role in M&A expanding.

○They are shifting their focus from civil and criminal litigation to corporate advisory services.

○Law firm Sejong grew by 18%, jumping from 5th to 3rd place.

Graphic News: Selling 2,000-won 'Iced Americano' brings in annual sales of 400 million won... As it becomes 'lifeblood for office workers,' the number of stores hits 100,000

○The era of 100,000 coffee shops

○Mega MGC Coffee ranks first in sales among low-cost coffee franchises

○Average annual sales per franchise store: 380 million won

the Chart: Even with KOSPI breaking 4,700, investors head to the US... Will RIA accounts stop the buying spree by Korean retail investors in US stocks?

○Domestic investors made a net purchase of 3 trillion won in US stocks this month

○The top ETF by domestic capital inflow also tracks US assets

○The inflection point for the unveiling of domestic market return accounts (RIA)

Today's Key Schedule

○Domestic

○International

06:00 US Net Long-term TIC Flows (November)

06:30 New Zealand Business PMI (December)

16:00 Germany Consumer Price Index (MoM) (December)

18:00 Italy Consumer Price Index (MoM) (December)

22:15 Canada Housing Starts (December)

23:15 US Industrial Production (MoM) (December)

23:15 US Capacity Utilization (December)

◇Weather at Lunchtime & After Work

○Lowest temperature: -1℃ (▼4℃) ｜Highest temperature: 5℃ (▼3℃)
○Chance of precipitation: 0% in the morning｜0% in the afternoon
○Fine dust: Bad in the morning｜Bad in the afternoon

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