[서울신문] ‘KOSPI Fear Index’ rising more in the bull market… “The ants are so overheated”

KOSPI 200 volatility index highest in half a year

Normally, when the stock index plunges, a sharp rise is the principle.
Recently, even though the Kospi has risen, it has skyrocketed together.
Yesterday’s closing price of 3125.95 fell for two consecutive days
“It’s like I’m trying to hide if I can buy more”
Government warns of debt investment by strengthening large credit loans

Reporter Park Yoon-seul [email protected]” style=”padding:0px;margin:0px”>

▲ On the 12th, in the dealing room of KB Kookmin Bank in Yeouido, Seoul, an employee is putting his hand behind his neck while watching the KOSPI market. On this day, the KOSPI retreated to 3047.56, a sharp drop of 3.20% during the week, but ended at 3125.95, down 22.50 points (0.71%) from the previous trading day thanks to personal buying.
Reporter Park Yoon-seul [email protected]

The KOSPI 200 Volatility Index (VKOSPI), called the’Fear Index’, reached its highest level in six months. It is predicted that the unstable market may continue for some time, as more gazes at the current stock market are increasing.

According to the Korea Exchange on the 12th, the previous day VKOSPI closed at 35.65, up 22.17% from the previous trading day. This figure is the highest in six months since June 18 (37.30), when global stock markets were adjusted due to concerns about the re-proliferation of Corona 19.

The VKOSPI is an index that measures the expected volatility of the future market reflected in option prices. It often surges when the stock index plummets. However, VKOSPI has recently risen as the KOSPI surged, showing the opposite movement from the past. VKOSPI rose 61.39% from 22.09 on December 30 last year to 35.65 the day before. During this period, the KOSPI surged 274.98 points (9.6%) from 2873.47 to 3148.45. The surge in VKOSPI in a bull market is unusual, which can be interpreted as overheating the KOSPI rise. Samsung Securities researcher Jeon Gyun said, “It shows that investors in the market are so excited.”

The KOSPI fell on the same day following the previous day and began to take a breath. The KOSPI closed the deal at 3125.95, down 22.50 points (0.71%) from the previous day. The KOSDAQ index closed the market at 973.72, down 2.91 points (0.30%). Analysis suggests that the KOSPI declined for two days in a row because it was in a buying gap after the KOSPI surge. Kyobo Securities Research Center Director Kim Hyung-ryul said, “On the 11th, individuals made a net purchase of 4,476.3 billion won, but there are parts that were impulsively bought out of impatience due to crowd sentiment. He pointed out that the time has come to think about whether it can be bought.

As interest in stock investment was concentrated, the financial authorities also began to intensively manage’debt investment’ (stock investment in debt). Vice Chairman Do Gyu-sang of the Financial Services Commission said in a speech at the meeting of the Financial Risk Response Group that day, “there are concerns about investment in assets such as real estate using excessive leverage.” “High credit loans that have rapidly increased recently, especially emergency life and business For loans that are difficult to see, we ask for the special management of the banking sector.” The previous day, the Financial Supervisory Service also held video conferences with executives in charge of loans from major banks and ordered them to pay attention to the management of household loans. The financial authorities are closely watching the surge in credit loans for debt.

Reporter Kim Jin-ah [email protected]