On the 5th, when KOSPI broke a record high for 7 consecutive trading days on the back of personal buying, the KOSPI index on the trading room electronic board at KEB Hana Bank in Jung-gu, Seoul showed 2990.57, up 46.12 points (1.57%) from the previous day. [뉴스1]
– The momentum of the’bull’ (rising market) in the domestic stock market in the new year is the same. In’Donghak Ant’s Advancement’, KOSPI broke the record for the highest price for two consecutive days. The KOSPI 3000 Hill came to’nose’.
Personal 7272 billion net buying led the rise
Break the record for two consecutive days
Transaction value 44 trillion, more than double the existing
“You need to be on the lookout for when the dollar turns strong”
– On the 5th, KOSPI closed the deal at 2990.57, up 1.57% from the previous day. The KOSDAQ index also recorded 985.76, up 0.83% from the previous day. Among the top stocks by market capitalization, Samsung SDS (14.25%), SK Innovation (5.63%), POSCO (4.40%), and SK Hynix (3.6%) rose significantly. Samsung Electronics, the stock market’large market stock’, closed at 83,900 won, up 1.08% from the previous day. As of the closing price of the day, Samsung Electronics’ market capitalization (500 trillion 8648 billion won) exceeded 500 trillion won.
Following the auto and battery-related stocks the day before, steel and shipbuilding-related stocks were strong on this day. The steel industry rose 5.8% on net purchases of foreigners (30 billion won) and institutions (80 billion won). On this day, individual investors recorded a net purchase of 7272 billion won in the KOSPI market. Individuals took the lead in the KOSPI’s rise by receiving’sales’ from foreigners and institutions.
The KOSPI crossed the 2800 line on December 24 last year and the 2900 line on the 4th, the first trading day of this year. In order to prevent the economic downturn caused by the novel coronavirus infection (Corona 19), the liquidity provided by the governments and central banks is overflowing, raising asset prices. In particular, the weak US dollar is influencing global funds into Asian financial markets. Park So-yeon, director of investment strategy at Korea Investment & Securities, said, “The difficulty of finding suitable Chinese stocks amid the trend of strengthening (global investors) investment in ESG (environmental, social, governance) is working positively in the domestic stock market.”
Oh Hyun-seok, head of the Samsung Securities Research Center, said, “An optimistic sentiment is added to the abundant liquidity, and (investors) ignore the bad news and focus only on the good news.” They are flocking to it.”
On this day, the transaction value of KOSPI (26 trillion won) and KOSDAQ (18 trillion won) reached 44 trillion won. The securities industry says that it has more than doubled compared to the existing transaction size. Some experts say they are concerned about the widening gap between the real economy and the stock market. The’Buffett Index’, which refers to the stock market capitalization relative to the nominal gross domestic product (GDP), exceeded 1.1 times. Jeong Yong-taek, head of IBK Investment & Securities Research Division, said, “The Buffett index of 1.1 times (in the early 2000s) is similar to the situation at the time of the information technology (IT) bubble.”
In the market, the concern is when and how the’resting phase’ comes. If the flow of global funds changes or liquidity decreases, the stock market will inevitably fluctuate. Park said, “We should be wary of the point when the dollar turns to strong as the vaccination (Corona 19) in the US is finished and economic activity resumes.” “From the middle of this month (major listed companies), the fourth quarter of last year will be announced. When companies close their accounts last year in March, it could be a sign of correction.”
For the time being, there is a view that it will be difficult to prevent the rushing of the bull. Lee Kyung-min, head of the investment strategy team at Daishin Securities, said, “There may be a movement (adjustment) to some extent due to an excessive sense of speed, such as a surge in the KOSPI price for three consecutive months. But the uptrend will not change.”
Reporters Ha Hyun-ok and Yeom Ji-hyun [email protected]
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