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In-the-News Securities Market Team ㅣ KOSPI surpassed the 2600 line (based on closing price) for the first time ever thanks to the rise of Samsung Electronics. It is the first time in 2 years and 10 months that it has crossed the 2600 line during the week.
On the 23rd, the KOSPI index closed at 2602.59, 1.92% more than the previous trading day. At one point in the week, it increased more than 2%, topping the 2605 line.
As a result, Kospi has experienced a new index. KOSPI’s previous record was 2598.09, which was recorded on January 29, 2018. The highest intraday was 2607.10.
The KOSPI has been on a strong rally for the past four weeks in a row. As of this month, it has risen roughly 14.8%. At the end of last month, the index, which remained at the 2260 line, rose above the 2600 line at the same time.
Samsung Electronics is by far the center of the KOSPI Rally. On this day, Samsung Electronics’ stock price rose 4.33% from the previous day to a record 67,500 won, breaking the record. It has skyrocketed more than 19% this month alone.
Along with Samsung Electronics, SK Hynix, one of the top two national stock exchanges, also shows a solid lead. It has risen more than 25% in November and has risen vertically to 100,000 won for the first time in nine months.
The strength of the two large-cap stocks is entirely led by foreign investors. Amid a sharp drop in the won-dollar exchange rate (a strong won), the booming trend of the semiconductor industry led to aggressive buying trends.
Furthermore, as expectations for the development of a Corona 19 vaccine have risen recently, contact-related stocks, which have been under pressure for some time, are showing a circulation pattern and rapid recovery. In recent years, a rapid circulation has emerged, mainly in the securities, shipbuilding and shipping industries.
Shinhan Investment Corp. analyzed that “KOSPI is breaking previous record amid strong large-cap semiconductor stocks” and “the emergence of foreign investors focusing on industry issues despite rapid rise in confirmed corona 19 cases. and the lack of momentum in American politics. “
Hana Financial Investment Research Institute Lee Jae-man said: “Before and after the end of the year and the New Year holidays, an investment strategy is necessary to find the common denominator of reality (value) and expectation. (estimated value)”. Pay attention to companies whose ROE is improving in 2021 compared to return on equity (ROE).
