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KOSPI 2,447.20 term … Highest in 29 months
“Biden’s Choice Confirmed to Eliminate Uncertainty”
Won / dollar exchange rate of 1,113.9 won closed … Low in 22 months
[앵커]
Our equity and currency markets are heating up as the victory of Biden’s Democratic candidate in the US presidential election is virtually confirmed. The KOSPI rose more than 30 points to a 29-month high and the won-dollar exchange rate hit a 22-month low. Reports from reporter Park Byung-han. The so-called ‘biden effect’ is warming our financial markets. As Biden’s victory in the US presidential election was known to be final, the Kospi finished at 2,447.20, an increase of 30.70 points and 1.27% above the battlefield. It was the highest in about 29 months since June 12, 2018, and also passed the ointment point on September 15. The KOSDAQ closed at 851.21, an increase of 14.43 points and 1.72% from the battlefield. Rechargeable batteries and new renewable energy-related stocks, which are seen as so-called “ biden beneficiaries ” on the stock market, are on the rise, with LG Chem ending up trading at 734,000 won, 1.94% more than the previous trading day and rose to third place in market capitalization. Samsung SDI and SK Innovation, which are affiliated with LG Chem as three battery companies, also rose 6% and 10%, respectively, and wind power generation companies and solar power companies also showed an uptrend. The KOSPI continued to be strong as Biden’s choice became clear, uncertainties were removed and China’s economic indicators improved. In particular, it is analyzed that while the COVID-19 outbreak spreads abroad, the expectations about the situation in which we will successfully lead the quarantine are also reflected. The won / dollar exchange rate fell 6.5 won to 1,113.9 won, the lowest in 22 months. It is the lowest level in 1 year and 10 months since January 31 of last year, in addition to revisiting the lowest floor based on the closing price. As the choice of candidate Biden became clear, the preference for risky assets such as currencies in emerging economies strengthened, and the anticipation of the biden administration of massive stimulus measures fueled the prospect of a weak dollar. This is YTN Park Byung-han.
