[마켓뷰] KOSPI, record high from the first trading day… “There is additional upside potential”

Input 2021.01.04 16:24

The stock market on the first trading day in 2021 was led by individual investors called Donghak Ant. The KOSPI index climbed to the 2940 line for the first time in history, thanks to individual net purchases of KRW 1 trillion.

According to the Korea Exchange on the 4th, the KOSPI index closed at 2944.45, up 70.98 points (2.47%) from the previous trading day. The index, which started rising to 2887.32 on the same day, crossed the 2940 line in the afternoon and soared to 2945.68 just before the close.

On this day, while the profit-taking volume of institutional investors poured out, individuals continued to buy net to defend against the index decline. In the securities market, individuals and foreigners net bought 1.3 trillion won and 84.7 billion won, respectively, and institutions net sold 1.188.3 billion won.

Financial investment industry officials are evaluating that the domestic stock market still has upside potential. While there are insufficient factors to suppress the bull market, it is analyzed that the upcoming 4Q earnings announcement and expectations for the Joe Biden administration can serve as factors to raise the index.

Lee Eun-taek, a researcher at KB Securities, said, “The fourth quarter earnings estimates have been raised, but they are not yet aggressive enough.” It appears to be a good thing for the stock market,” he explained.

Among the top 10 stocks by market capitalization in the securities market Celltrion (068270)Except for, all stocks rose. With the prospect that the electric vehicle market will grow this year, Hyundai Motor (005380)Including LG Chem (051910), Samsung SDI (006400)And rechargeable battery-related companies were remarkable.

There is also a prospect that the rich liquidity will remain for the time being. As the low interest rate continues and the money move to risky assets such as stocks continues, abundant stock-market funds can be a supporting factor when the market falls.

The KOSDAQ index rose 9.20 points (0.95%) to 977.62, closing the deal. The KOSDAQ index began to rebound from the mixed trend in the afternoon. In the KOSDAQ market, individuals net bought 3774 billion won, and institutions and foreigners net sold 73.9 billion won and 269.1 billion won respectively.

The top stocks of the KOSDAQ market capitalization were mixed. Ecopro BM rose more than 10%, Celltrion Pharmaceutical (068760), Celltrion Healthcare (091990)Fell by 8.51% and 7.18%, respectively. Alteogen (196170), Seegene (096530)It also fell by more than 4%.