증시 대담
The markets are closed now in Korea and that means it's time to get some expert analysis of stocks and a lot more.
On the line is Daniel Yoo, head of the Global Research Team at Kiwoom Research Center.
Thanks for joining us this afternoon, Mr. Yoo.
You're welcome.
On Wall Street, we're waiting for earnings from some of the big players, so overnight the indexes were a mixed bag. Take us through the global markets today.
In fact, 78% of S & P 500 listed companies posted earnings per share (EPS) higher than market consensus, according to US market researcher FactSet.
Earnings forecasts for listed companies in S & P 500 were also revised upward in 1Q. FactSet estimates that the operating profit of S & P 500 listed companies will decline 3.9% YoY. Earnings forecasts rose 0.4ppt in just one week, compared with 4.3pc decline estimated a week earlier. In particular, operating profit forecasts for the financial sector and consumer discretionary goods gained 1.6 percentage points, 0.9 percentage points higher than the previous estimates.
However, Chinese market is taking a breather despite the strong economic numbers.
We believe US market particularly Nasdaq will continue to do well due to low interest rate environment.
Last week we saw the end of a remarkable winning streak here in Korea on the KOSPI. How's it shaping up this week?
KOSPI is pretty much taking a breather at 2200 level and above.
Valuation cheap. Fair price based on residual income model estimated to be around 2,300. Clearly undervalued with PBR of 0.9x book.
In order for market to rise again, you need additional momentum.
3 factors such as 1) rate cut by G2, 2) US-China dispute settlement, 3) OECD leading indicator turning around
Now, we have to talk about oil prices. Yesterday the U.S. said it will not give waivers to any country to import oil from Iran. By definition that's going to hit supplies, and immediately after that announcement we saw prices rise sharply. Are prices going to keep going up?
Oil prices surged about 3% at midday on Monday, hitting fresh 2019 highs, after the Trump administration announced that all oil buyers will have to end imports from Iran in just over a week or be subject to U.S. sanctions.
The administration said the State Department will cease granting sanctions waivers to any country still importing Iranian crude or condensate, an ultra-light form of crude oil, after May 2.
Crude markets were taken by surprise today as the Trump administration indicated it WON'T renew waivers that lets countries purchase Iranian oil without facing U.S. sanctions," he said in a research note. "Many expected that the US would take tougher action on the waiver front, but most DIDN'T expect an announcement of zero waivers."
The U.S. reimposed sanctions in November on exports of Iranian oil after U.S. President Donald Trump unilaterally pulled out of a nuclear accord struck in 2015 between Iran and world powers. Washington, however, granted eight of Iran's biggest oi
