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Risk sentiment in Asia is set to decline following a significant sell-off on Wall Street, driven by disappointing US growth data, rising inflation expectations, and renewed pandemic concerns. The S&P 500 and DJIA fell 1.7%, while the Nasdaq dropped 2.2%, with focus now shifting to NVIDIA's upcoming earnings. Despite the downturn, Chinese equities showed resilience, and the ASX 200 presents a potential buying opportunity as it approaches key support levels.
UBS has downgraded Amorepacific Corp from 'Buy' to 'Neutral' and reduced its price target from KRW 160,000 to KRW 120,000, citing that positive catalysts are already reflected in the stock's performance. Concerns arise over slower growth expectations for the Cosrx brand, which is projected to see high single-digit growth in 2025, down from previous double-digit rates. While there is optimism for Laneige's sales in the US and EU, this may be offset by underperformance in Cosrx, with UBS open to revisiting their rating if certain sales conditions are met.
UBS has downgraded Amorepacific Corp from 'buy' to 'neutral,' reducing its price target from KRW 160,000 to KRW 120,000, citing that positive market shifts and sales mix improvements are already reflected in the stock's 2024 performance. Concerns arise over potential downside risks for 2025, particularly following slower growth projections for the Cosrx brand, which is expected to contribute significantly to operating profit. Despite a promising outlook for the US and EU markets, UBS warns that weaker Cosrx sales could offset gains from other brands.
UBS has initiated coverage on LG Uplus Corp, assigning a Neutral rating with a target price of KRW11,000, citing low return on equity and limited AI visibility compared to competitors. The stock is trading at 2.8 times its 2026 expected EV/EBITDA, reflecting fair valuation amid potential upsides from share buybacks. However, risks include weaker operating profit growth and sustained low ROE, which could negatively impact future performance.
UBS has initiated coverage of SK Telecom, assigning a Buy rating with a target price of KRW65,000. The firm forecasts a 6.5% CAGR in operating profit from 2024 to 2026, driven by growth in the data center and cloud business, alongside a stable telecommunications revenue stream.Analysts highlight the potential for increased dividends, projecting a 20% CAGR in dividend per share, resulting in yields of 7.1% in 2025 and 8.9% in 2026. Despite regulatory risks, UBS remains optimistic about SK Telecom's financial health and growth prospects.
UBS has initiated coverage of LG Uplus Corp with a "neutral" rating and a target price of KRW 11,000, citing low return on equity and limited AI visibility compared to competitors. The stock trades at 2.8 times its expected 2026 EV/EBITDA ratio, deemed reasonable given current conditions. Potential upside exists with future share buybacks, which could yield a total return of 6.5% to 7.2%, but risks include weaker operating profit growth and persistently low ROE.
UBS has initiated coverage on KT Corp with a Buy rating and a target price of KRW 55,000, highlighting the company's strong growth potential in the telecom sector. The firm projects a 17% CAGR in operating profit from 2024 to 2026, driven by advancements in AI, labor cost reductions, and stable marketing expenses. KT Corp has consistently paid dividends for 11 years, currently yielding 4.3%, reinforcing its positive outlook for investors.
US President Trump has initiated a review of selective tariffs, targeting specific countries and addressing non-tariff barriers like VATs and subsidies. While immediate implementation is delayed, potential retaliatory measures from the EU, Japan, and South Korea could escalate trade tensions, impacting market volatility and inflation. The EU has proposed lowering tariffs on US cars to avoid conflict, while negotiations with India aim to reduce high tariffs on US goods.
South Korea's Financial Regulatory Authority is set to sanction J.P. Morgan, UBS, Morgan Stanley, and Nomura for alleged illegal short selling, following an investigation that identified 14 banks violating local laws. Short selling has been illegal in South Korea since November 2023, with a ban expected to last until March 2025. Previous fines were imposed on Barclays and Citigroup for similar violations, highlighting the government's commitment to addressing trading irregularities.
South Korea's market regulator has imposed fines on JPMorgan, Nomura, UBS, and Morgan Stanley for breaching short-selling regulations in the domestic stock market. The penalties were announced by an official from the Financial Supervisory Service on February 13, 2025.
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market sentiment declines as us growth data raises stagflation concerns
03:12 24.02.2025
ubs downgrades amorepacific stock rating and lowers price target
10:40 20.02.2025
ubs downgrades amorepacific shares citing growth concerns and price target cut
10:15 20.02.2025
ubs assigns neutral rating to lg uplus with target price of krw11000
12:18 19.02.2025
ubs initiates buy rating for sk telecom with target price of krw65000
12:18 19.02.2025
ubs rates lg uplus neutral with target price of krw 11000
12:16 19.02.2025
ubs initiates buy rating for kt corp with target price of krw 55000
12:16 19.02.2025
selective tariffs signal potential trade negotiations and market volatility ahead
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south korea sanctions major banks for illegal short selling violations
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south korea fines major banks for short selling violations
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