Stabilizing US Rates and SK Hynix's Treasury Stock Cancellation Signal Positive Market Momentum

This is attributed to the influence of US government bond buybacks, as the government has moved into market management mode ahead of the November midterm elections.

SK Hynix has announced a treasury stock buyback and cancellation worth 40 trillion won. The shares will be bought on the open market, and SK Hynix's move is expected to help resolve the market's supply imbalance at a time when domestic stock market supply has been lacking.

Lee Hyo-geun, manager at MBN Gold, said investors should view the market positively for the three months from August through October. This period precedes the US midterm elections, and election events are expected to affect the market.

However, the domestic treasury stock buyback and cancellation has offset these dilution concerns.

He estimated that combined, the two companies could inject about 100 trillion won in new liquidity into the domestic stock market.

Orders for semiconductor equipment makers surged in the first half, and meaningful earnings are expected to emerge from the third quarter. Manager Lee cited the saying "stock prices are the shadow of earnings" and stressed that a full-scale semiconductor SOSA (materials, parts and equipment) market could open from the third quarter. He added that the first and second halves will look entirely different.

Moderna has long drawn market attention, and this news has now been reported. The development is drawing interest from the biopharmaceutical industry and investors.