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Experts “Relieve Uncertainty in US Presidential Elections And Reflect Vaccine Expectations … Corona 19 is a Variable”
KOSPI rose to the 2,500 mark in two and a half years, charting an upward curve of the market trend, based on foreign purchases.
On the 16th, KOSPI ended up trading at 2,543.03, an increase of 49.16 points (1.97%) over the previous trading day.
Based on the closing price, it is the highest level in 2 years and 9 months since February 1, 2018 (2,568.54).
It is the first time since May 2, 2018 (2,505.61) that it breaks the 2,500 line.
The KOSPI, which fell to 1,457.64 on March 19 due to the global spread of the new coronavirus (Corona 19) infection, jumped close to 1,100 points in about eight months.
At the same time, it approached the all-time high of 2,598.19 according to the closing price set on January 29, 2018, with a difference of about 55 points.
The driving force behind the recent increase in the index is the march of foreign lions.
Foreigners continued to buy KOSPI for 8 consecutive business days starting on day 5.
During this period, the net purchase amount of KOSPI by foreigners amounted to 4.74 trillion won.
During the last 8 days, the stocks that foreigners bought the most were Samsung Electronics, a large intestine of KOSPI, which netted a value of KRW 2.4321 trillion.
Investor sentiment has improved due to the ease of external uncertainty and the strength of the won, with semiconductor stocks with the largest market capitalization, including Samsung Electronics, leading the index rise.
On this day, the won / dollar exchange rate on the Seoul foreign exchange market ended at 1,109.3 won to the dollar, 6.3 won less than the previous trading day.
The 1,100 won range based on the closing price is only 23 months from December 4, 2018 (1,105.3 won).
Kim Ji-san, director of the Kiwoom Securities Research Center, said: “As the uncertainties related to the US presidential elections are resolved, the dollar is weak and the won is strong, so the value The Korean stock market has increased and the Korean stock market is more attractive.
He diagnosed: “It appears that the semiconductor industry is recovering strongly with the expectation that the semiconductor industry will bottom out and rebound next year.”
IBK Securities and Investment Research Center Director Jeong Yong-taek said: “It seems to reflect a lot of expectations about vaccines in America that grew over the last weekend.” Explained.
He added: “If the positive news related to vaccines is reflected in recent years, global investors are increasing the proportion of investment towards emerging countries or risk assets, but the proportion of Korea, which has good liquidity conditions, will increase rapidly. “.
Experts pointed to the trend of Corona 19 as a variable that will determine the direction of the national stock market in the future, while forecasting a solid trend of the national stock market for the time being.
The center’s director, Kim Ji-san, predicted that the market is more sensitive to good news than bad news: “If the dollar continues to weaken and the won is strong, there is room for a positive effect on supply and demand. of foreigners “.
However, he added, “the impact of Corona 19 on the economy is key,” he added. “In the short term, we will have to see the impact of some economic blockages due to the reproliferation of Corona 19.”
“Corona 19 is the most important variable in the market going forward,” said Jeong Yong-taek, director of the center. Expected.
/ yunhap news
