00:02Three numbers before the open.
00:0634%. How far global IPOETFS have surged this year, while Korea's own IPO fund is down 54%.
00:17212 trillion won now sits inside Korea's pension savings accounts, and funds make up more than 40% of it
00:25for the first time.
00:25And heatwave stocks are on fire. LS Electric up 29%. HD Hyundai Electric up 32%.
00:36It's Thursday, August 6th. Here's what investors are watching in Korea today.
00:42Global IPO-themed ETFs rode a wave of blockbuster listings from Hong Kong to the U.S.,
00:49while Korea's own IPO market cooled after newly listed stocks failed to hold their opening gains.
00:55Regulators tightened mandatory lockup rules a year ago to encourage longer holding periods,
01:01but institutional commitments slipped back under 1% anyway.
01:05Record heat, meanwhile, sent Koreans shopping for air conditioners,
01:09and revived interest in the power equipment makers supplying Korea's AI data center boom.
01:16Here's what the numbers show.
01:17IPOS, the global IPO-themed ETF, returned 33.97% year-to-date, while Korea's only domestic IPO-themed product,
01:30Unicorn Post IPO Active, lost 53.8% over the same period.
01:3621 Korean stocks listed this year, excluding SPACs, and their average return against the offering price
01:43sits at negative 19.69%.
01:46Institutional lockup commitments fell back under 1% last month,
01:51even as the COSDAC index swung from 900 points to 1,229 points,
01:58before dropping roughly 26%.
02:01Pension Savings Fund balances hit 90.24 trillion won,
02:07about $63 billion, up 26.9% from the first quarter,
02:13pushing the fund share of pension savings accounts past 40% for the first time.
02:19LS Electric jumped 29.4%,
02:22and HD Hyundai Electric climbed 31.7% over the past month,
02:28as heatwave demand added to an existing AI-driven power equipment supercycle.
02:34Starting next month, retirement accounts can buy 10-year and 20-year individual government bonds
02:41directly, with nine brokerages, including Mireille Asset Securities, set to handle sales.
02:48So what does this mean for market followers tracking Korea?
02:51Earlier, we said global IPO ETFs are up 34%,
02:57while Korea's own IPO fund is down 54%.
03:01Here's what that actually means for you.
03:04The domestic listing pop is fading fast,
03:06so investors chasing new listings need to watch first-day pricing more carefully.
03:12The pension fund shift toward equities, now over 40% of balances,
03:17signals Korean retail investors are getting more comfortable with market risk
03:21inside tax-advantaged accounts.
03:23And the heatwave rally in power equipment names layers seasonal demand
03:28on top of the AI infrastructure build-out, already driving those stocks higher.
03:34Three things worth watching.
03:36September's start date for retirement account purchases of individual government bonds.
03:41Whether the COSDAC index can hold above the 1,200 level after this month's pullback.
03:48And next month's IPO pipeline for signs the lockup ratio problem is easing.
03:55That's today's AI Prism, Securities Daily.
03:58This episode was produced with AI Assistants,
04:01based on sole economic daily reporting,
04:04and reviewed by a human editor.
04:06AI Prism is a Juan Ifra award-winning series.
04:10We'll be back tomorrow.
04:11Intro
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