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Finance

IBK Industrial Bank of Korea first-half net profit 1.44 trillion won, down 4.4 percent

IBK Industrial Bank of Korea posted first-half consolidated net profit of 1.44 trillion won, down 4.4 percent from a year earlier, the bank said. Market share in SME finance rose to a record 24.6 percent as SME loans increased to 270 trillion won. The bank cited larger foreign-exchange valuation losses and higher loan-loss provisions as factors behind the profit decline. It will pay its first quarterly dividend.

Industry

China\'s CXMT surges 470 percent in Shanghai debut, valued at 715 trillion won

Chinese memory chipmaker ChangXin Technology Group (CXMT) surged about 470 percent on its first day of trading on Shanghai\'s STAR Market, becoming China\'s most valuable listed company. The Hefei-based firm priced its IPO at 8.66 yuan per share and raised 57.92 billion yuan, described as Asia\'s largest IPO this year. Its market value rose to about 3.3 trillion yuan. CXMT plans to invest proceeds in memory wafer production and R&D.

Crypto

XRP echoes 2017 pattern ahead of 66,000 percent surge, with $0.82 support in focus

An analysis said XRP is again showing a symmetrical triangle pattern similar to the one seen ahead of its 2017 to 2018 surge. The key question is whether the current decline signals a breakdown of the long-term bullish structure or a typical pullback after a breakout. XRP previously rallied more than 66,000 percent after breaking above resistance in 2017. Market attention is now on the $0.70 to $0.83 zone, especially $0.82.