[이번주 증시] Domestic stock market with increased volatility.. Pay attention to whether Treasury yields rise

NH Investment & Securities KOSPI Band 3000~3150 presented

[오피니언뉴스=이수민 기자] Last week, the domestic stock market showed a solid trend.

The KOSPI index, which started a week below the 3000 line at the 2977 line on the 1st, closed the trade by rising above the 3100 line at 3120.63 on the 5th.

The weekly KOSPI index increase rate reached 4.85%. Although it fell more than 5% on the 25th to 29th of last month, most of the falls have recovered. The weekly increase was the largest in about a month since the 4th to 8th of last month (9.69%).

Last week, foreigners started buying for 4 out of 5 trading days, but the institution showed a sell-off for 3 out of 5 trading days. From the 2nd to the 4th, the agency has poured out over 2,422.8 billion won of sales.

Again this week, it is not expected to be easy to expect an uptrend in the stock market. This is because the volatility of the stock market is expected to increase as government bond yields rise.

Seo Sang-young, a researcher at Kiwoom Securities, said, “Recently, in a situation where inflation pressure is increasing, government bond yields are showing a tendency to rise.”

NH Investment & Securities set the upper band of the KOSPI index from 3000 to 3150. Expectations for the US economic stimulus and the extension of the ban on short selling were factors of an uptrend, but concerns over the valuation burden were analyzed as down.

NH Investment & Securities analyst Kim Young-hwan said, “Expectations for US economic stimulus measures are a factor supporting the lower stock market, but it is still too early to act as an uptrend.”

It is also positive that, with US President Joe Biden proposed a $1.9 trillion in economic stimulus plan, the possibility of invoking budget control rights that can pass the bill with a majority vote without the consent of the Republican Party is also positive.

Analyst Kim explained, “If Vice President Kamala Harris casts a boat, there is a possibility that the stimulus bill will pass the Senate.”

The good clinical results of vaccines other than Pfizer, Moder and others are also noteworthy. The Janssen vaccine is expected to be applied for use by the US FDA in February and the Novavex vaccine in March. These vaccines have the advantage that they can be stored for a considerable period of time at 2-8 degrees.

Meanwhile, consumer price indexes for Korea and the US are scheduled to be released this week. The Eurozone Sentix Investment Confidence Index is also about to be released.

On February 10, Korea’s unemployment rate for January and the producer price index for January are released.

From the 11th to the 12th is the Lunar New Year holiday in Korea, and the Chinese New Year is from the 11th to the 18th. The Chinese New Year in Taiwan runs from the 10th to the 16th.

Reporter Lee Soo-min[email protected]
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