Korea Stock Market Insights

Tag: Stock Forecast

INVENI Announces Shareholder Value Enhancement Policy: Will Dividends and Buybacks Boost Stock Price?
INVENI Aims for Stock Rebound with Shareholder Return Policy!

INVENI recently announced a plan to maintain dividends and repurchase shares to enhance shareholder value. Can this strategy alleviate investor concerns amidst recent performance struggles and create momentum for a stock price rebound? This article analyzes INVENI’s shareholder return policy and examines the potential benefits and risks from an investment perspective.
Analysis of INVENI’s Shareholder Value Enhancement Policy

On September 3, 2025, INVENI announced its policy to enhance shareholder value. The core elements include maintaining a minimum dividend of KRW 3,000 per share for the next three years and repurchasing 5% of outstanding shares (300,000 shares, approximately KRW 19 billion) by the end of 2026.

Background and Objectives of the Shareholder Return Policy

INVENI has recently faced performance challenges. The announcement of this shareholder return policy is interpreted as a strategy to address investor concerns and restore market confidence. Furthermore, the share buyback aims to improve earnings per share (EPS) and book value per share (BPS), thereby increasing the company’s value.

Potential Benefits and Risks
- Benefits: Clear shareholder return policy, potential for stock price appreciation and increased investment attractiveness, strengthened financial soundness, improved management transparency and credibility.
- Risks: Uncertainty regarding profit recovery, lack of transparency in funding the share buyback, potential changes in market conditions and the business environment.
Investor Action Plan

Investors should consider the potential for short-term stock price gains while carefully evaluating the likelihood of profit recovery and policy execution from a long-term perspective. The impact of macroeconomic variables should also be taken into account. Fluctuations in exchange rates, interest rates, oil prices, and sea freight rates, which are relevant to INVENI’s business model, could affect investment returns.
What is the scale of INVENI’s share buyback?

INVENI plans to repurchase 300,000 shares, representing 5% of its total outstanding shares.

What is INVENI’s dividend policy?

The company plans to maintain a minimum dividend of KRW 3,000 per share for the next three years.

Will INVENI’s shareholder return policy announcement positively impact its stock price?

A positive short-term stock price reaction is anticipated, but the company’s ability to improve profitability will be a crucial factor in the medium to long term.
09/03/2025
Hyundai HT Stock Forecast: Impact of Lee Geon-gu’s Increased Stake & Investment Strategies
Recent news revealed an increase in Hyundai HT shares held by Lee Geon-gu, a major shareholder. Is this a simple stake adjustment or a significant signal for future stock performance? This article delves into the implications of this change, analyzing Hyundai HT’s fundamentals, stock forecast, and providing key investment strategies.
1. What Happened? (Event Analysis)

On September 3, 2025, Lee Geon-gu, a major shareholder of Hyundai HT, along with Park Chul-hee, increased their stake in the company. Lee Geon-gu’s ownership rose slightly from 38.56% to 38.57%, interpreted as a move to strengthen management control. While the change is minimal, it signals the management’s intent and commitment.

2. Why Did This Happen? (Background Analysis)

Hyundai HT possesses a stable business foundation based on its smart home systems. The company is actively pursuing new growth engines by venturing into electric vehicle charging stations and generational warehouses. This stake increase can be seen as a strong indication of management’s confidence in these new ventures. Furthermore, the company’s robust financial structure (debt ratio of 29.51% and net debt to equity ratio of -4.63%) demonstrates sufficient capacity for investments in these new businesses.

3. What’s Next? (Future Outlook)

Although a small stake increase, the stated purpose of ‘management influence’ can positively impact investor sentiment. Strengthened management control will likely boost new business initiatives, offering a positive signal for long-term investors. However, short-term stock volatility will depend on market conditions and the company’s fundamental performance.

4. What Should Investors Do? (Investment Strategies)
- Long-term investors: Considering Hyundai HT’s business diversification and financial stability, a long-term investment approach might be suitable.
- Short-term investors: Focus on monitoring the performance of new businesses and market reactions rather than short-term stock fluctuations to identify potential investment opportunities.
FAQ

How will Lee Geon-gu’s increased stake affect the stock price?
While minimal short-term impact is expected, it could positively influence management stability and new business development in the long run.

What are Hyundai HT’s main businesses?
Their core business is smart home systems, with expansion into electric vehicle charging stations and generational warehouses.

What are the key investment points for Hyundai HT?
Key investment points include a stable financial structure, competitiveness in the smart home market, and pursuit of new growth engines.
09/03/2025
Gamsung Corporation Announces Stock Buyback: Impact and Investment Strategy
Gamsung Corp’s KRW 1.7 Billion Buyback: What’s Next for the Stock?
On September 3, 2025, Gamsung Corporation announced a stock buyback. This decision, aimed at enhancing shareholder value, will likely impact the market. This article analyzes the background of the buyback, stock price forecasts, and provides an action plan for investors.
1. What Happened? – Buyback Announcement Analysis
Gamsung Corporation announced a KRW 1.7 billion stock buyback on September 3rd. This equates to 304,659 common shares, representing about 0.34% of the company’s market capitalization. The buyback, aimed at enhancing shareholder value, will be conducted through open market purchases on the KOSDAQ.
2. Why the Buyback? – Background and Objectives
Officially, the company stated “enhancing shareholder value” as the primary objective. This is the third buyback planned for 2025 and can be interpreted as a commitment to stabilizing the stock price and restoring investor confidence. The announcement comes at a time when the stock price has been stagnant despite strong performance in the apparel business, but weighed down by the struggling mobile business.
3. What’s the Impact on Stock Price? – Short-term and Long-term Outlook
In the short term, the buyback is expected to have a positive impact on the stock price. Buybacks reduce the number of outstanding shares, increasing the value per share and raising expectations for shareholder returns. Past instances of stock price increases following buyback announcements support this outlook.
The long-term stock price outlook is closely tied to the company’s fundamentals. Continued growth of Snowpeak Apparel, strengthening the competitiveness of Actimon, and improving cost management efficiency are key tasks. If these factors improve, they can synergize with the buyback effect and drive stock price appreciation.
4. What Should Investors Do? – Action Plan
- Short-term investors: Consider a short-term investment strategy that leverages the upward momentum following the buyback announcement.
- Long-term investors: Carefully analyze whether the company’s fundamentals are improving and make investment decisions from a long-term perspective.
- All investors: Pay constant attention to external factors such as changes in the macroeconomic environment and competitor trends.
FAQ
When will the buyback start?
The exact purchase period has not yet been announced. Please check future announcements.
Are there any plans to cancel the repurchased shares?
Currently, no cancellation plans have been announced. Monitor future company disclosures.
Does a stock buyback always have a positive impact on the stock price?
Not necessarily. While a buyback can act as a short-term positive catalyst, it’s difficult to expect long-term stock price increases without underlying improvements in the company’s fundamentals.
09/03/2025
POSCO Holdings Q2 2025 Earnings Disappoint: Can IR Presentation Spark a Turnaround?
POSCO Holdings Q2 2025 Earnings Disappoint: What’s Next?

POSCO Holdings faced a challenging second quarter in 2025, with significant declines in earnings due to weak steel performance and losses in the secondary battery materials business. The upcoming IR presentation on September 8th is crucial. Will it be enough to address investor concerns and outline a clear path to recovery? This analysis dives into POSCO Holdings’ Q2 results, providing insights into the future outlook and investment strategies.
1. POSCO Holdings Q2 2025 Earnings Analysis: What Happened?

POSCO Holdings reported a 51.8% year-over-year decline in consolidated revenue to KRW 349.924 trillion and a 45.9% drop in operating profit to KRW 1.175 trillion for the first half of 2025. Net income also experienced a substantial decrease.

1.1. Performance by Segment: Why These Results?
- Steel Division: Weak performance driven by global economic slowdown, declining demand, and rising protectionism.
- Infrastructure Division: Lower LNG prices and trading volumes impacted revenue, alongside a weak construction sector.
- Secondary Battery Materials Division: Slowing EV market growth, volatile raw material prices, and initial investment costs led to increased losses.
- Other Businesses: Minimal revenue contribution due to ongoing investments in new growth areas.
2. Fundamental Impact and Market Environment Analysis: What’s the Outlook?

2.1. Macroeconomic Environment:

A volatile macroeconomic environment persists, marked by a rising KRW/USD exchange rate, frozen interest rates, fluctuating oil prices, and increasing bond yields.

2.2. Impact on POSCO Holdings Fundamentals:
- Steel Division Challenges: Investment in low-carbon technologies and high-value-added products is crucial.
- Secondary Battery Materials Business: Long-term growth potential remains, but securing key mineral supplies and building a robust value chain are essential.
- New Business Investments and Financial Management: Efficient cash flow management and capital allocation are critical.
- Shareholder Return Policy: Share buybacks and dividends are positive but must be balanced against investment needs.
3. IR Presentation and Investment Strategy: What Should Investors Do?

The September 8th IR presentation is key for outlining the second-half outlook and future growth strategies. Clear explanations of the growth potential of the secondary battery materials business and the restructuring efforts in the steel division are crucial.

3.1. Investment Considerations
- Clarity and feasibility of the earnings improvement strategies and investment roadmap presented in the IR.
- Correlation between POSCO Holdings’ businesses and the timing of global economic recovery and interest rate cuts.
- Competitive landscape of the secondary battery market and raw material price volatility.
- Impact of geopolitical risks, such as US tariffs, and the company’s mitigation strategies.
4. Conclusion

POSCO Holdings faces a challenging environment. The IR presentation represents an opportunity to restore investor confidence by clearly articulating future growth strategies. Investors should carefully consider the information presented in the IR and the broader market conditions before making investment decisions.
Frequently Asked Questions

What are POSCO Holdings’ main businesses?

POSCO Holdings operates in steel, infrastructure, secondary battery materials, and new growth businesses.

What are the reasons for the weak performance in the first half of 2025?

Key factors include the global economic slowdown, declining steel demand, and increased initial investment costs in the secondary battery materials business.

What is the outlook for POSCO Holdings’ stock price?

Stock price volatility is expected, depending on the future strategies presented in the IR presentation and the overall market conditions. The growth potential of the secondary battery materials business and the restructuring of the steel division are crucial factors.
09/03/2025
GnC Energy Secures $10 Million Contract for Emergency Generators in the Philippines: What’s Next?
GnC Energy is accelerating its global market penetration with a $10 million contract to supply emergency generators to the Philippines. This is a positive sign, potentially offsetting recent sluggish performance in the generator business segment, and is attracting investor attention. This blog post will analyze the details of the contract, its impact on the stock price, and GnC Energy’s future outlook.
1. What Happened? GnC Energy Signs $10 Million Contract for Emergency Generators in the Philippines
GnC Energy announced on September 3, 2025, that it has signed a $10 million contract with VISTA CONTRACTING AND INVESTMENT GLOBAL PTE. LTD to supply emergency generators to the Philippines. The contract period runs from September 2, 2025, to March 31, 2027, totaling 1 year and 7 months. This represents 5.93% of GnC Energy’s total sales.

2. Why Does it Matter? Overseas Expansion and Expected Performance Improvement
This contract is a key component of GnC Energy’s overseas expansion strategy. Considering the recent decline in sales within the generator business segment, this contract serves as an important indicator of growth potential in overseas markets. It aligns with the company’s strategy of securing sustainable growth drivers through strengthening its renewable energy business and expanding its overseas presence.

3. So What? Expected Short-Term Stock Price Momentum and Long-Term Growth Driver
This contract is expected to have a positive impact on the stock price in the short term. The $10 million contract will not only contribute to increased sales but is also expected to help secure long-term growth drivers by increasing the likelihood of additional overseas orders. The current KRW/USD exchange rate of around 1,391 is also expected to have a positive impact on the KRW value of the contract. However, long-term stock price trends will depend on overall business performance and changes in the macroeconomic environment.

4. What Should Investors Do? Continuous Monitoring and Maintaining a Long-Term Perspective
- Monitor Contract Implementation: Continuously check the successful implementation of the contract.
- Profitability Analysis: Analyze the actual profitability of the contract.
- Monitor Macroeconomic Changes: Analyze the impact of macroeconomic changes such as exchange rates and raw material prices.
- Maintain a Long-Term Perspective: It is important to make investment decisions based on the company’s long-term growth potential rather than reacting to short-term stock price fluctuations.
FAQ
How will this contract impact GnC Energy’s financial status?
The $10 million contract is expected to positively affect sales growth and improve cash flow. In particular, it can contribute to improving the performance of the generator business segment, which has been sluggish recently.

What is the outlook for GnC Energy’s stock price?
This contract can provide positive momentum for the stock price in the short term. However, the long-term stock price can be affected by various factors such as the company’s performance, the macroeconomic environment, and market conditions. Continuous attention and analysis are required.

What is GnC Energy’s overseas business expansion strategy?
GnC Energy has a strategy to expand its overseas business by strengthening its renewable energy business and entering emerging markets, including Southeast Asia. This contract is part of this strategy, and more active overseas market entry is expected in the future.
09/03/2025
Bioplus: Jeong Hyeon-gyu Reduces Stake by 1.05% – What Investors Need to Know
Jeong Hyeon-gyu, a major shareholder of Bioplus, has sold part of his stake. This is a critical event that all Bioplus investors should understand. What does this stake change mean for the future of Bioplus? This article analyzes key information and suggests investment strategies, covering everything from short-term stock fluctuations to long-term growth potential.
What Happened?
On September 2, 2025, Jeong Hyeon-gyu, a major shareholder of Bioplus, sold 1.05% of his stake. This sale, conducted for ‘management influence’ purposes, was facilitated by J One Global Co., Ltd.’s over-the-counter purchase. This decreased Jeong’s stake from 30.47% to 29.42%.
Why Does This Matter?
Changes in major shareholder stakes can be interpreted as important signals about a company’s management and future direction. A stake sale for ‘management influence’ purposes, in particular, can create uncertainty for investors. However, the fact that J One Global Co., Ltd. made the purchase suggests there may be more to this than a simple sale.
So, What’s Next for Bioplus?
- Short-term Impact: Jeong Hyeon-gyu’s stake sale could put downward pressure on the stock price in the short term. The possibility of investor sentiment weakening should also be considered.
- Long-term Impact: While the projected return to operating profit in 2025 is positive, the continued net loss and increasing debt ratio are concerns. The success of Bioplus’s next-generation new business pipeline will be crucial for long-term growth.
What Should Investors Do?
- Short-term Investment Strategy: A conservative investment strategy is recommended, keeping in mind the possibility of a stock price decline. It’s wise to stay on the sidelines and observe the trend.
- Long-term Investment Strategy: Investors should carefully monitor the progress of the new business pipeline, improvements in earnings, and any further changes in major shareholder stakes before making investment decisions.
This analysis is for investment reference only, and the responsibility for investment decisions lies with the individual investor.
FAQ
Why did Jeong Hyeon-gyu sell his stake?
According to the public disclosure, the stake change was for ‘management influence’ purposes. The detailed background has not yet been revealed.
What is Bioplus’s financial status?
Bioplus recorded losses in both 2023 and 2024, but is expected to return to operating profit in 2025. However, the company is still projected to record a net loss, and the increasing debt ratio is a concern.
What should investors be cautious about?
In the short term, investors should be wary of the possibility of a stock price decline due to the stake sale. In the long term, they should continuously monitor the progress of the new business pipeline, earnings improvement, and any further changes in major shareholder stakes.
09/02/2025
Jasco Holdings’ Warrant Exercise: A Boon or Bane for Investors? In-depth Analysis and Investment Strategies
What’s Happening with Jasco Holdings?

Is Jasco Holdings’ warrant exercise just another event, or a warning sign for investors? This article delves into the market impact, dissecting the hidden risks and opportunities to provide investors with a clear direction.
1. What is a Warrant Exercise?

Jasco Holdings is issuing 1,207,546 shares through its third warrant exercise. The exercise price is ₩1,325, with a listing date of September 15, 2025. This represents approximately 1.41% of the market capitalization.

2. Why Exercise Warrants Now?

While there’s no official announcement, given the current financial situation, the primary purpose is likely fundraising. However, considering the ongoing operating losses and deteriorating financial structure, it’s questionable whether this will be a fundamental solution.

3. Impact on Investors
- Downward Pressure on Stock Price: Increased shares in circulation due to the new listing could exert downward pressure on the stock price in the short term. The current stock price being higher than the exercise price may also lead to profit-taking.
- Dilution of Shareholder Value: An increase in the number of shares without a corresponding increase in company value can dilute shareholder value.
- Potential Deterioration of Financial Structure: The fundraising effect may be minimal and could further burden the financial structure.
4. What Should Investors Do?
- Caution with Short-Term Investments: Increased price volatility is expected around the new listing date (September 15, 2025), so caution is advised for short-term investments.
- Monitor Fundamental Improvements: Closely monitor changes in fundamentals, such as a turnaround in operating profit and improvements in financial soundness.
- Long-Term Perspective: Investment decisions should be made carefully, considering the company’s long-term growth potential.
Frequently Asked Questions

What are warrants?

Warrants are rights to purchase company shares at a predetermined price (exercise price).

Does a warrant exercise only have negative impacts on stock prices?

Not necessarily. If the company utilizes the raised capital effectively for growth, it can contribute to stock price appreciation in the long run. However, the current situation for Jasco Holdings is not entirely positive.

I’m considering investing. What should I be aware of?

It’s important not to be swayed by short-term stock price fluctuations and to continuously monitor the company’s fundamental improvements. Additionally, consider the steel industry’s market conditions and the macroeconomic environment.
09/02/2025
Wireble Announces KRW 9.5 Billion Share Buyback: Impact on Stock Price?
Wireble has just announced a KRW 9.5 billion share buyback program. This represents a significant 13.84% of its market capitalization. But what does this mean for the stock price? This article analyzes the backdrop of this decision, explores its potential positive and negative impacts, and provides insights for investors.
1. Wireble’s KRW 9.5 Billion Buyback: What’s Happening?

On September 2, 2025, Wireble announced its plan to repurchase and retire KRW 9.5 billion worth of its own shares. This equates to 5,021,241 common shares, a substantial 13.84% of its market cap. The buyback is scheduled for September 3rd.

2. Why the Buyback? Analyzing the Current Situation

Wireble’s first-half 2025 results revealed declining sales and profitability. The underperformance of its ‘Telecommunications Infrastructure Construction’ segment is a key factor, while the success of its new ventures remains uncertain. With a PER of -49.49 and a PBR of 0.96 (as of August 14, 2025), the stock shows signs of undervaluation. In this context, the share buyback can be interpreted as a strategic move to enhance shareholder value and improve investor sentiment.

3. How Will the Buyback Impact the Stock Price?
- Positive Impacts:
  Increased Shareholder Value: Reducing outstanding shares increases the value per share.
  Improved Investor Sentiment: Positive reaction to the shareholder-friendly policy.
  Potential Stock Price Boost: The buyback could create short-term upward momentum.
- Potential Negative Impacts:
  Cash Outflow: The KRW 9.5 billion outflow could put a strain on short-term liquidity.
  Lack of Fundamental Improvement: The buyback itself doesn’t guarantee improved financial performance.
4. What Should Investors Do? Action Plan

While short-term upward price movement is possible, long-term investment requires caution. Investors should carefully examine upcoming earnings releases to assess whether the company can reverse the sales decline trend and demonstrate success in its new ventures. A short-term buy consideration is valid, but continuous monitoring of fundamental improvement is crucial.
FAQ

What is a share buyback?
A share buyback is when a company repurchases its own outstanding shares. This reduces the number of shares available on the market, potentially increasing the value of each remaining share.
Does a share buyback guarantee a stock price increase?
Not necessarily. While a buyback can create positive short-term momentum, sustained price increases depend on improvements in the company’s underlying fundamentals.
What is the outlook for Wireble’s stock price?
Positive sentiment surrounding the buyback might boost the stock price in the short term. However, the long-term outlook depends on the company’s ability to improve its financial performance. Caution is advised.
09/02/2025
Kumho Petrochemical IR Key Analysis: H1 2025 Earnings and Investment Strategy
Investing in Kumho Petrochemical: What Should You Do Now?
Investor attention is focused on Kumho Petrochemical’s upcoming Investor Relations (IR) session on September 3, 2025. Despite growth in synthetic rubber and fine chemicals, sluggish performance in synthetic resins and CNT, coupled with macroeconomic uncertainties, makes investment decisions challenging. This article analyzes Kumho Petrochemical’s H1 2025 earnings, future outlook, and key points to watch for during the IR. Gain valuable insights to inform your investment strategy!
1. Kumho Petrochemical H1 2025 Earnings: A Mixed Bag
Kumho Petrochemical’s H1 2025 earnings presented a mixed picture of growth and decline. While synthetic rubber and fine chemicals showed robust growth, synthetic resins and CNT segments struggled.
2. Key IR Analysis: 3 Points to Focus On
- Earnings: Earnings that exceed market expectations could trigger a stock price rally. The continued growth of synthetic rubber and fine chemicals is crucial.
- Future Growth Strategy: Announcements regarding strategies to address the CNT downturn, progress in new business ventures (ECH), and the impact of EPDM expansion will influence investor sentiment.
- Shareholder Return Policy: Any mention of share buybacks and cancellation plans can be interpreted as a positive signal for enhancing shareholder value.
3. Investment Strategy: Neutral Stance, Focus on IR Outcomes
While Kumho Petrochemical’s fundamentals appear solid, a neutral investment perspective is advisable considering external uncertainties. Carefully review the information revealed during the September 3rd IR and continue to monitor external factors like exchange rates, raw material prices, and global economic conditions.
4. Kumho Petrochemical Investment: 4 Key Checklist Items
- Check Key IR announcements: Scrutinize details on H1 earnings, future growth strategies, and shareholder return policies.
- Monitor Macroeconomic indicators: Analyze the impact of fluctuations in exchange rates, interest rates, and raw material prices.
- Competitor Analysis: Consider the potential for increased competition and cost pressures.
- Maintain a Long-term Perspective: Avoid being swayed by short-term stock price fluctuations and make investment decisions based on a long-term view.
Kumho Petrochemical Investment FAQs
What are Kumho Petrochemical’s main business segments?
Kumho Petrochemical operates in various business segments, including synthetic rubber, synthetic resins, fine chemicals, and CNT.
How did Kumho Petrochemical perform in H1 2025?
Synthetic rubber and fine chemicals experienced growth, while synthetic resins and CNT segments underperformed. Refer to the IR materials for detailed information.
What should investors consider when investing in Kumho Petrochemical?
Investors should exercise caution and consider macroeconomic uncertainties, increased competition, and fluctuations in raw material prices.
09/02/2025
Samsung E&A Investor Relations (IR) Analysis: September 2025
Samsung E&A Investment Opportunities: Insights from the Latest IR

Samsung E&A held its investor relations (IR) presentation on September 3, 2025. This report provides a comprehensive analysis of the key takeaways, including the company’s current performance, future strategies, and potential investment opportunities. Gain valuable insights to inform your investment decisions.
1. Samsung E&A IR: Key Highlights

Samsung E&A’s IR, held on September 3, 2025, focused on the company’s operational performance and strategic direction. The presentation included a Q&A session for investors.

2. Fundamental Analysis: A Solid Foundation?

Samsung E&A maintains a stable business foundation through its robust EPC capabilities. Key international projects like the Dos Bocas New Refinery Project in Mexico and the AGIC PDH&UTOS Project in Saudi Arabia are progressing as planned. However, the company’s high debt-to-equity ratio (197.95%) and low current ratio (38.12%) require ongoing attention.
- Strengths: Securing and executing large-scale international projects, stable revenue base
- Weaknesses: High debt-to-equity ratio and low liquidity
- Opportunities: Securing new growth engines, such as green solutions
- Threats: Exchange rate fluctuations, interest rate changes, and macroeconomic headwinds
3. Market Expectations and IR Impact

The IR aims to enhance corporate value and build investor confidence. Depending on the content of the presentation, short-term stock price volatility may increase. In the long term, the IR is expected to positively impact the company’s image and investor sentiment. Investors should closely monitor macroeconomic factors and the feasibility of the presented plans.

4. Investor Action Plan
- Carefully review the IR presentation: Focus on new project acquisitions and specific plans for future growth.
- Monitor macroeconomic changes: Analyze the impact of external factors like exchange rates, interest rates, and oil prices.
- Maintain a long-term perspective: Focus on the company’s long-term growth potential rather than short-term stock price fluctuations.
※ Investment decisions are the sole responsibility of the investor.
Frequently Asked Questions

What is Samsung E&A’s main business?

Samsung E&A is a global EPC (Engineering, Procurement, and Construction) company undertaking projects in various industrial sectors, including petrochemicals, refineries, and power plants.

What were the key takeaways from this IR?

The presentation covered key management updates and a Q&A session, offering insights into the company’s current performance and future strategies.

What should investors consider when investing in Samsung E&A?

Investors should consider the company’s high debt-to-equity ratio and the potential impact of macroeconomic variables such as fluctuations in exchange rates, interest rates, and oil prices.
09/02/2025