Recently, the South Korean stock market surpassed the 3,000 mark thanks to expectations surrounding the new government's policy, but the forecasts for corporate performance, which are the fundamental requirements for stock price increases, have rather regressed.
According to financial information provider FnGuide on the 29th, the annual operating profit estimates for 191 companies listed on the KOSPI, for which three or more institutions provided performance consensus (average projections), totaled 265.7 trillion won.
This is a downward adjustment of 6.4% from the six-month ago estimate of 284.63 trillion won. Compared to the estimates three months ago (266.96 trillion won) and one month ago (266.66 trillion won), this represents decreases of 0.5% and 0.4%, respectively.
By corporation, the annual operating profit estimate for KOSPI's leading stock Samsung Electronics is 31.6 trillion won. This is a decrease of 2.3% from the previous month's estimate of 32.37 trillion won. The estimate for SK Innovation plummeted by 25.7% during the same period, while the estimate for HANALL BIOPHARMA, in the pharmaceutical and biotech sector, dropped by 42.0%.
In contrast, there are corporations that have seen their performance forecasts rise as beneficiaries of the new government policy. Notably, Kakao Pay's operating profit estimate has recorded an 80.4% increase to 21 billion won in just one month, likely due to expectations surrounding the introduction of stablecoins. Amid efforts to amend commercial laws led by the ruling party, the performance estimates for holding companies, including Hanwha, have also been revised upward.