KOSPI profit forecasts rise as energy and IT sectors drive growth

South Korean market indicators show strong performance in the second quarter. Shinhan Securities reported that the annual net profit consensus for 261 KOSPI-listed companies has been raised by 6.2% to 800.2 trillion won. Second-quarter net profits reached 239.3 trillion won, exceeding market expectations by 32.4%. Growth was primarily driven by the energy, information technology, industrial goods, and materials sectors. Specifically, the energy sector saw a 124.8% surprise rate due to high refining margins and supply disruptions.

In the cosmetics sector, Cosmax achieved record-breaking results for the second quarter, with revenue rising 27% year-on-year to 794.9 billion won and operating profit increasing 21% to 73.7 billion won. The company's US subsidiary recorded its first quarterly profit, driven by increased orders from indie beauty brands. Additionally, Cosmax saw significant growth in its Chinese, Indonesian, and Thai operations, supported by expanding demand for skincare and global exports.