[Market Focus] Hana Financial Group Surges on Favorable Exchange Rate, Hits Record High

Hana Financial Group showed strong performance due to expectations of earnings boosted by exchange rate effects, setting a new intraday 52-week high.

As of 9:18 a.m. on June 27, Hana Financial Group was trading at 84,900 won on the Korea Exchange, up 1,400 won (1.68%) from the previous day. During the session, the stock rose as high as 85,400 won, marking a new 52-week high.

On the same day, SK Securities raised its target price for Hana Financial Group from 81,000 won to 102,000 won, citing a positive outlook for recent exchange rate trends. The investment opinion was maintained as 'Buy.' Seol Yongjin, a researcher at SK Securities, explained, "We are raising our target price based on revised earnings estimates and adjustments to the discount rate considering the shareholder return ratio. Hana Financial Group is expected to benefit in the second quarter from the current exchange rate environment, given that its common equity tier 1 (CET1) ratio and non-monetary foreign exchange gains and losses are relatively more volatile within the industry."

KB Securities also raised its target price for Hana Financial Group by 20.9% to 110,000 won. Kang Seunggeon, a researcher at KB Securities, stated, "The reasons for the target price increase are that net interest margin (NIM) management has been better than expected through active funding cost control; non-interest income has increased due to the depreciation of the exchange rate; and improved CET1 has enhanced the visibility of shareholder return ratio improvement."

This content was produced with the assistance of AI translation services.