Shinhan Bank Surges 9.60% in July as KOSPI Falls 13.97%, High-Dividend ETF Leads

According to Korea Exchange, Shinhan Bank surged 9.60% to 105,000 Korean won on July 9, while KB Financial (up 7.80%), Hana Financial (up 6.98%), and Woori Financial (up 3.62%) also advanced sharply. This marked a stark contrast as KOSPI fell 13.97% in July due to memory chip volatility linked to Samsung Electronics and SK Hynix declines.

Bank stocks are classified as defensive holdings due to stable dividends, cash flows, and interest rate sensitivity. Meanwhile, a high-dividend ETF holding financial stocks, the RISE 200 High-Dividend Covered Call ATM, posted the highest weekly return among domestic equity ETFs at 7.34%, according to Koscom ETF data, outperforming U.S. and China-focused products.