Korea Macro Daily(Beta Mode)
Won at 17-Yr Low, Growth Dims
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| KOSPI | 6,475.63 | -0.00% |
| KOSDAQ | 1,203.84 | +2.51% |
| USD/KRW | 1,475.58 | -0.30% |
| Samsung | 219,500.00 | -2.23% |
| SK Hynix | 1,222,000.00 | -0.24% |
| Brent Crude | 99.13 | -5.65% |
| Gold | 4,740.90 | +0.76% |
| Bitcoin | 78,298.08 | +0.88% |
| Korea Short-term Rate | 2.53% | -0.55% |
| Korea Long-term Rate | 3.73% | +3.21% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Korea Short-term Policy Rate | Type: macro_line | Short-term Rate (%): 2.527 (2026-03-01) | Range: 0.48–3.639 | Trend(6pt): 0.48,1.971,3.596,3.245,2.531,2.527
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Monday (2026-04-27) | |||
| Business Confidence Index | 71 | - | 17:00 |
| Friday (2026-05-01) | |||
| Exports Year-over-Year | 48.30 | - | 20:00 |
- OECD projects Korea's potential growth at 1.7%, falling to record-low 1.57% next year due to demographics and productivity issues.
- Korean won's real value hits 17-year low, with USD/KRW hovering above 1,480 amid foreign outflows and dividend pressures.
- Q1 GDP surges on chip exports, curbing BoK rate cut odds despite bad loans topping 5 trillion won at top banks.
Yesterday's Recap
Korean markets displayed mixed results, with KOSPI flat at 6,475.63 (-0.00%) as traders paused after a three-day record run amid global tech caution. KOSDAQ rose 2.51% to 1,203.84, lifted by small-cap AI stocks despite broader pressures. USD/KRW fell 0.30% to 1,475.58, indicating mild won strength on export hopes, though reports note a 17-year low in real value.
Samsung Electronics dropped 2.23% to 219,500.00 on HBM supply worries, while SK Hynix eased 0.24% to 1,222,000.00 despite target price hikes to 2.34 million won. Short-term rates declined 0.55% to 2.53%, matching the BoK base rate, but long-term rates climbed 3.21% to 3.73% on inflation concerns. No key data emerged yesterday, yet news of bad loans exceeding 5 trillion won at major banks heightened stability risks, offset partly by chip sector resilience against Middle East tensions.
The Day Ahead
Markets eye the Business Confidence Index tomorrow at 17:00 ET, previous at 71 with no consensus, gauging manufacturing mood amid robust chip demand. Exports year-over-year follows on April 30 at 20:00 ET, after a 48.3% prior jump, shedding light on trade driven by semis to US and China. No events today, giving room to absorb recent GDP vigor and won strains.
Monitor global signals like US data for USD/KRW impacts. Focus persists on semis, with SK Hynix's elevated targets underscoring AI potential.
Other Economic Notes
Korea's Q1 GDP marked its fastest growth in over five years, fueled by semiconductor exports, yet OECD flags potential growth dipping to 1.57% next year from demographics and productivity woes. Bad loans at the top four banks surpassed 5 trillion won, intensified by Middle East risks, stoking financial concerns amid export dependence. Global banks have upped Korea's growth views, praising chip strength, though energy shocks pose threats.
Global Macro News
Global tech wariness and USD strength weighed on Korean assets, with Brent crude tumbling 5.65% to 99.13 on supply fears, affecting importers like Korea. Gold advanced 0.76% to 4,740.90 via safe-haven bids, aiding investors amid won swings. (cont...)
