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Hyundai Motor Co. reported a third-quarter operating profit of 3.58 trillion won ($2.6 billion), a 6.5% decline from the previous year, falling short of analysts' expectations of 3.9 trillion won. Despite a 4.7% increase in sales to 42.9 trillion won, weaker global vehicle sales and heightened geopolitical risks impacted earnings.
Korean cuisine is rapidly gaining popularity in India, with food imports from South Korea, particularly noodles and pasta, experiencing significant growth. In FY24, imports reached $12 million, a substantial increase from $1.5 million in FY20. By the first five months of FY25, pasta imports alone hit $7.4 million, marking a dramatic rise in South Korea's share of India's pasta market from 0.8% a decade ago to 37% in FY24.
Korea Zinc Co. shares surged 30% as investors anticipated the outcome of a stock buyback initiated by Chairman Choi Yun-beom to counter a $12.5 billion takeover bid. Trading at 1,138,000 won, the stock exceeded the 890,000 won buyback offer, indicating investor expectations for a higher proposal amid ongoing control disputes.
Asian stocks declined, with Japanese, South Korean, and Australian shares falling, while Hong Kong stock futures also dropped. The yen steadied after reaching its weakest level against the dollar since July. Futures for the Nasdaq 100 rose, buoyed by strong earnings from Tesla, as traders adjusted expectations for Federal Reserve rate cuts amid rising Treasury yields. The term premium on 10-year Treasury notes reached its highest since November.
SK Hynix, a leading memory chipmaker, reported a record quarterly profit driven by robust sales of high bandwidth memory (HBM) for generative AI chipsets. In the third quarter, the company achieved a revenue of 17.57 trillion won ($12.7 billion) and an operating profit of 7.03 trillion won ($5.08 billion), surpassing expectations.
Asia markets are poised to open lower following declines on Wall Street, with South Korea narrowly avoiding a technical recession as its GDP grew 0.1% in Q3. The country has announced a financial support program of 75.9 trillion won to aid businesses affected by high interest rates. Meanwhile, U.S. crude oil prices fell over 1% due to a significant increase in stockpiles, reflecting a cautious economic outlook amid rising consumer price sensitivity.
SK Hynix Inc. achieved a record quarterly profit of 7.03 trillion won ($5.1 billion) in the September quarter, surpassing projections of 6.9 trillion won. Revenue surged 94% to 17.6 trillion won, slightly below the expected 18.2 trillion won, driven by strong demand for memory chips linked to AI development with Nvidia Corp. processors.
South Korea's economy recorded a modest growth of 0.1% in the third quarter, following a 0.2% contraction in the previous quarter. This growth fell short of economists' expectations of a 0.4% increase, highlighting concerns over a weakening export rally and rising geopolitical tensions.
ÖKK offers the cheapest basic health insurance premiums for 2025, while Helsana leads in alternative models. The Federal Council plans to reform widows' pensions, limiting them until children turn 25. Meanwhile, 3,000 North Korean soldiers are reportedly training in Russia, and Rudolph Giuliani must relinquish luxury assets to settle a $150 million damages claim.
The Healthcare Cybersecurity Solution market is rapidly expanding due to increasing risks of data breaches and cyberattacks in the healthcare sector. The digitalization of records and connected devices has heightened vulnerabilities, prompting healthcare organizations to invest in advanced security measures. Key players in the market include Atos, Bitdefender, and Cisco, with growth expected to accelerate as regulatory pressures and technological advancements drive demand for robust cybersecurity solutions.
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hyundai reports profit decline amid weaker sales and geopolitical tensions
07:49 24.10.2024
korean cuisine gains popularity in india with soaring food imports
05:37 24.10.2024
Korea Zinc shares surge as buyback bid results are anticipated
03:13 24.10.2024
asian stocks decline as yen steadies amid mixed market signals
03:11 24.10.2024
SK Hynix reports record profit driven by strong AI memory sales
01:53 24.10.2024
asia markets poised for decline as south korea narrowly avoids recession
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01:45 24.10.2024
sk hynix achieves record profit driven by ai chip demand
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south korea's economy shows slight growth after previous contraction
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health insurance costs rise as widow pension reforms spark controversy
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17:00 23.10.2024
healthcare cybersecurity solution market poised for significant growth through 2032
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15:46 23.10.2024
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