South Korean stocks fell on Wednesday, with electronics, internet and steel stocks lower. The Korea Composite Stock Price Index (KOSPI) closed down 0.36% or 8.92 points on January 24 at 2,469.69 points. The stocks with larger increases were energy and minerals (1.09%), finance (0.78%), processing industry (0.53%), etc. The stocks with larger decreases were health services (-2.47%) and health technology (-1.29%). , Electronic Technology (-1.23%), etc. South Korea's Joint Chiefs of Staff said on Wednesday that North Korea launched multiple cruise missiles into the Yellow Sea around 7 a.m. This is North Korea's first cruise missile launch since September 2023, when North Korea test-fired two long-range strategic cruise missiles equipped with simulated nuclear warheads into the Yellow Sea. Tensions are high along the inter-Korean border after North Korea conducted live-fire drills near its western maritime border earlier this month. South Korea's military said it would resume shelling and drills near the border after North Korean shelling destroyed an agreed-upon buffer zone. Data from Statistics Korea on Wednesday showed that South Korea's population continued to naturally decline in November 2023, with the number of deaths continuing to exceed the number of births. A total of 17,531 babies were born in November, down 7.6% from the same period last year and setting a new low for the same period since relevant data began to be compiled in 1981. The number of deaths in November increased slightly by 0.3% from the same period last year to 30,255, and the population naturally decreased by 12,724. South Korea's population declined naturally for the first time in 2019, and the trend of deaths exceeding births has continued for 49 consecutive months. In the first 11 months of 2023, the number of newborns in South Korea was 213,572, a decrease of 8.1% from the same period last year and a record low for the same period in previous years. A survey released by the Bank of Korea on Wednesday showed that South Korea's comprehensive consumer confidence index was 101.6 in January, higher than 99.7 last month, rising for the second consecutive month, due to moderate inflation, recovery in exports and expectations of an end to interest rate hikes by the Federal Reserve. And hit a new high since August 2023. An indicator above 100 means there are more optimists than pessimists. HSBC analyst Xu Ruiqi reported that in 2024, the profits of listed companies on the Korean Composite Stock Price Index are expected to grow by 51%, mainly driven by the recovery of the semiconductor industry. The report expects chipmaker SK Hynix to benefit from the DRAM upgrade cycle, inventory declines due to production cuts, and the boom in artificial intelligence. HSBC maintained its buy rating and target price of 180,000 won on the stock. A Goldman Sachs report believes that as the Korean semiconductor industry recovers from a sharp decline in profits, the Korean market will have the highest profit growth potential in the Asia-Pacific region in 2024. Goldman Sachs predicts that net profit per share of listed companies on the Korean Composite Stock Price Index will increase by 54% in 2024 and a further 20% in 2025. The report pointed out that the stock price to net asset ratio of the Korea Composite Stock Price Index is 0.92, and a number below 1 indicates that Korean stocks may be below fair value. Goldman Sachs said defense stocks are one of the most attractive areas of the Korean stock market. LG Display Co., one of the world's major display panel makers, said on Wednesday it posted an operating profit for the first time in seven quarters, helped by growth in smartphone and TV panel shipments. The company's operating profit in the fourth quarter of last year was 131.7 billion won ($98.3 million), ending six consecutive quarters of net losses, compared with an operating loss of 875.7 billion won in the same period last year, the report said. LGD said it plans to strengthen its competitiveness and business foundation in all areas of the OLED business, including large displays, mobile and automotive fields, to ensure a stable revenue structure. Samsung Electronics (005930.KS) fell 1.60% to 74,000 won. Battery major LG Energy Solution (373220.KS) rose 1.87% to 380,500 won. DRAM giant SK Hynix (000660.KS) rose 0.50% to 141,500 won.