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The KOSPI index rose again a day after crossing the 3000 line. On the 8th, the KOSPI index finished at 3,152.18, up 3.97%. The photo shows a trading room at Hana Bank in Euljiro, Seoul, just after the market closed. Reporter Huh Moon-chan [email protected]
Stock prices are breaking records every day. Individual funds continue to flow into the stock market and foreigners have also started buying. The news from abroad gave impetus to the rise in the share price.
The KOSPI index rose 3.97% on the 8th, closing at 3,152.18. This is the biggest increase since June 16 (5.28%) last year when the stock market, which had slumped due to Corona 19, rebounded abruptly. All shares rose from Samsung Electronics, which ranked first in market capitalization, to LG Household and Health Care, which ranked 16th.
Foreign investors pushed up the stock price by buying about 1.6 trillion won in net purchases on the stock market. It is the largest in about 10 years after the net purchase of 1.72 trillion won on July 8, 2011.
Several pieces of news that broke out served as good news. Bloomberg News reported that Morgan Stanley Capital International (MSCI) decided to exclude China Mobile, China Telecom and China Unicom from its main end-of-market index. Donald Trump is a group of companies that is on the US administration’s investment ban blacklist. The money from the sale of the shares has entered the Korean market, market experts said.
Large stocks soared. Shares of Hyundai Motor Company (19.42%) Hyundai Mobis (18.06%) and Hyundai Wia (21.33%) rose after news that Apple could cooperate with Hyundai Motor to make an electric car. On the news that TSMC, a Taiwanese foundry company (consigned semiconductor production), is delaying the development of 3nm process technology (1nm = 1 billionth of a meter), the share price of its rival Samsung Electronics rose 7.12% to 86,800 won.
Lee Kyung-soo, director of the Meritz Securities Research Center, said: “As Korea’s industrial portfolio has been reorganized into a structure suitable for the future, the stock market is receiving a reassessment.” It is not appropriate to judge whether or not ”.
KOSPI exceeded 3100
Half of the KOSPI market capitalization of 4 major groups
Some say it’s “crazy” and others say it’s scary. Analysts who forecast and analyze the stock price can only explain that it is a “psychological shift.”
The stock price broke the 3150 line two days after hitting 3000. Big stocks like Hyundai Mobis are hitting the roof and Samsung Electronics’ market capitalization is increasing by tens of trillion won a day. Experts say it was the first time since the dot-com bubble in 1999 that a rebound was seen after a drop in stock prices, but it has risen sharply.
As the price of large-cap stocks skyrocketed, the market caps of the top four subsidiaries exceeded 50% of the total stock market, creating several records. There is also a number of good news coming in that spurs great actions.
Reports of the main stocks of the market capitalization
On the 8th, Samsung Electronics finished at 88,800 won, an increase of 7.12%. The march of historical maximum prices continues. Based on the closing price, the market capitalization of the common stock alone exceeded 500 trillion won for the first time. It amounted to 530 billion 116.7 billion won. It has been about a month and a half since it surpassed 400 billion won in late November last year. SK Hynix, second in market capitalization, also surpassed 100 trillion won. This year alone, it increased by 16.45%. To date, these two companies alone have exceeded 100 trillion won.
A new name was added to the club with a market capitalization of 50 billion won. Hyundai Motor Company, Naver and Samsung SDI are the main characters. Hyundai Motor Company hit the 50 trillion won market capitalization again in about 10 years. Apple, which is preparing to launch a car, closed the deal at 246,000 won, an increase of 19.42% following news that it is in talks with Hyundai. In one day, it went from 8 to 5 in stock market capitalization (excluding preferred stocks). Naver, which has undergone an adjustment since September last year, rose 7.77%, again surpassing the 50 trillion won market capitalization after September last year.
This is the first time that Samsung SDI has exceeded the 50 trillion won market capitalization. Along with the increase in secondary battery stocks, it has risen 32% over the past two weeks. “Samsung SDI is expected to get aggressive orders this year,” said Kim Chul-joong, a researcher at Mirae Asset Daewoo. “As the market for electric vehicles and energy storage systems (ESS) grows, performance will improve rapidly.”
The share of the four main groups Samsung, Hyundai Motors, LG and SK in the stock market has increased significantly. The market capitalization share of the top four groups increased from 47% at the end of 2018 to 56% on this day. The share of the entire Korean stock market is also close to half.
This is due to the concentrated buying trend in large-cap stocks. Until the 7th of this year, individuals bought net 3,493.6 million won on the stock exchange. Samsung Electronics alone bought a value of 2 trillion won. Then, large-scale growth stocks such as LG Electronics (523.8 billion won), SK Biopharm (381.3 billion won) and Celltrion (120.7 billion won) were included in the account. During the same period, foreigners led a surge in the top-tier stock market by net purchasing LG Chem (364.5 billion won), Hyundai Motors (2633 billion won), Kakao (258.8 billion won). won) and SK Hynix (2.472 billion won). The institution sold more than 3 trillion won in net sales.
Kim Gwang-hyun, a researcher at Yuanta Securities, said: “It seems that the ‘big hands’ that broke free from the requirements of the big shareholders started buying again after the turn of the year. “There is.”
Even if it exceeds 1 million won per week
Events that exceeded one million won also appeared. LG Chem recorded 1,016,000 won for the week. Based on the closing price, only 1.2% remains up to the stock firm’s target price of 1.1850 won. Market capitalization exceeded 70 trillion won. Thanks to the overall strength of gaming stocks, NCsoft also touched 1 million won during the week. Previously, LG H&H was the only stock with a share price above 1 million won.
Kakao’s share price, which had been sideways after the coronavirus rally, also rebounded. That day, it rose 7.83%, setting a record. The day before, it surpassed 400,000 won per week for the first time and reached the 430,000 won level. The target price keeps rising. Lee Min-ah, a researcher at Daishin Securities, who recently raised Kakao’s price target to 530,000 won, said: “As most business units maintain strong performance, operating profit will increase by 70% this year.” . The value has also increased. “
Limit theory is slow
In the wake of the surge in large-cap stocks, there is also an atmosphere that has slowed down. This is because the bull market continues not only in Korea but also around the world. Experts believe that cash flow is likely to influence the future price of the shares. Kim Hak-gyun, director of the Shinyoung Securities Research Center, said: “It seems likely that funds will continue to move into the stock market, but if that speed slows, there may be an adjustment.”
Jaeyeon Ko / Hankyung Economic Daily [email protected]
