![[서울신문] A gift from Biden’s inauguration… Break through the record high in KOSPI](https://img.seoul.co.kr/img/upload/2021/01/21/SSI_2021012116273200.jpg "[서울신문] A gift from Biden’s inauguration… Break through the record high in KOSPI")
Samsung Electronics’ last-minute bullish turn 1.03% ↑
“Market worries dilute in comments by the nominee for Yellen”
▲ The closing prices of KOSPI and KOSDAQ are displayed on the electronic board of KB Securities headquarters in Yeouido, Seoul on the 21st, when the KOSPI index reached a record high based on the closing price. On that day, the KOSPI increased 46.29 points to close at 3,160.84. 2021.1.21 Reporter Oh Jang-hwan [email protected]
The KOSPI rose for three consecutive days on the 21st and set a new record in 9 trading days. The positive impact from the US was large.
On this day, the KOSPI finished at 3160.84, up 46.29 points (1.49%) from the previous day, breaking the record high of the closing price (3152.18) on the 8th. Samsung Electronics turned to strong last minute, rising 1.03% from the previous trading day, leading the breakthrough in the index. It seems to be the influence of reports that Intel recently signed a semiconductor outsourcing contract with Samsung Electronics.
In addition, the strength of US technology companies such as Netflix led to the rise of domestic non-face-to-face representatives such as Naver (4.71%) and Kakao (2.25%). LG Electronics (10.78%) surged for the second day on the news of the mobile division’s withdrawal review.
By investor, foreigners net bought 2214 billion won in the KOSPI market, leading the rise. Institutions sold 152.7 billion won and individuals net sold 57.4 billion won.
The stock market on that day benefited from the expected effects of the launch of a new US administration. Samsung Securities’ investment information team leader Jung Myung-ji said, “We believe that the inauguration of US President Joe Biden and remarks at the approval hearings by Finance Minister Janet Yellon were reflected in the stock price by diluting market worries.” At the Senate approval hearing held on the 19th (local time), Yellen said, “When the US economy recovers to the extent that it can withstand more taxes, we will discuss with the Organization for Economic Cooperation and Development (OECD) about the corporate tax increase pledged by President Biden. I will.” In addition, the large-scale economic stimulus plan announced by the Biden government gave expectations to the market. On the 20th, in the New York Stock Exchange on the 20th, the Dow Jones 30 Industrial Average, the Standard & Poor’s (S&P) 500 Index, and the Nasdaq Index both broke record highs.
In addition, the solid performance of major technology companies has also driven the share price rise. Netflix, which announced its earnings after the market close the day before, saw a sharper-than-expected increase in new subscribers in 4Q. Netflix also revealed that it was also reviewing the purchase of treasury stocks, and the stock price soared about 16.9% that day, driving the strength of the overall technology stocks. It provided confidence that the earnings of large technology stocks would be good enough to justify the surge in stock prices.
Facebook rose 2.4%, and Google’s parent company Alphabet (A) also jumped 5.4%. In addition, the company’s overall earnings in 4Q are good, with Morgan Stanley’s announcement of net profit and sales far exceeding market expectations.
According to the fact set, about 88% of the companies that announced their results to this day have achieved net profits exceeding market expectations. In addition, the fact that the founder Ma Yun of Alibaba in China appeared on an official statue in three months and calmed the’missing rumors’ raised by some is considered a factor that had a positive effect on the overall global stock market as well as China.
Meanwhile, the KOSDAQ finished at 981.40, up 3.74 points (0.38%) from the previous day.
Reporter Yoo Dae-geun [email protected]