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In the stock market, foreign net purchases are expected to continue into next year due to the global economic recovery and the impact of the falling won / dollar exchange rate.
The reason why net purchases by foreigners continued because the strength of the won caused by the fall in the exchange rate created a favorable environment for foreign purchases inflows.
In fact, the won / dollar exchange rate has fallen to the 1,100 won range, the lowest level in 29 months last week, and has been fluctuating slightly.
The won / dollar exchange rate, which was around 1,190 won in September, has been declining for about 3 months. During this period, the KOSPI surpassed line 2500 in early November from line 2330 and reached line 2600 on this day.
In addition, the net purchase of foreigners is interpreted as a result of the anticipation of the Corona 19 vaccine and the expectation that the US economic stimulus plan will begin in earnest. Investors who anticipate a drop in the value of the dollar are moving money to emerging markets.
Yong-joon Cho, director of the Hana Financial Investment Research Center, said: “As exports increased, expectations of a recovery in the real economy grew.” “No.”
“A similar environment was created in 2010, and foreigners bought a net 21 trillion won in our market,” he said. “It is still similar to the situation at that time. This is a sign of growing expectations for emerging markets. Therefore, foreign net purchases continued until the first half of next year, reaching 2,900. It is expected to break through. ”, He explained.
Share prices “will hit 3,000 next year”The financial investment industry has already featured the top of the KOSPI target index range for next year, up to 3,000 in its annual report.
In the report, Heungkuk Securities predicted that “considering the global growth rate and the effect of US President-elect Joe Biden, Korea’s growth rate next year will be strong at the mid or late 3% level, and KOSPI’s operating profit will increase 38% from this year. “
He explained: “The increase in the operating profit of KOSPI implies an improvement in the profits of the industries with a large part of the profits, such as semiconductors and automobiles.”
NH Investment & Securities, which was expecting 2,800, said: “After the share price rises in anticipation of the economic recovery at home and abroad at the beginning of the year, there may be a temporary adjustment due to the end of the Biden government honeymoon period and rising interest rates. ” It will create an environment similar to ‘Goldilocks’ (an ideal economic situation that is neither hot nor cold). “
Additionally, Shinhan Investment & Securities (2100-2700), Hanwha Investment & Securities (2100-2700) and KB Securities (2750) projected a maximum of 2700 units.
Shinhan Investment Corp. explained that “Semiconductors, focused on Samsung Electronics, have confirmed the bottom of the industry and have taken a turn, so the leading stock in the first half is considered semiconductors.”
