[2020 금융 결산⑥] ‘Donghak Ant Movement’ in the 21st century…’Surprise with Corona’

‘Corona 19 aftermath’ rebounded after March …KOSPI 3000, KOSDAQ 1000 surpassed
Net purchase of 47.9 trillion won in individual investors this year… average daily trading value of 15 trillion → 27 trillion
First-quarter earnings of a brokerage company, followed by a sudden change in earnings…’Donghak Ant’ Joohyo

[서울파이낸스 남궁영진 기자] It is no exaggeration to say that this year’s domestic stock market was dominated by a novel coronavirus infection (Corona 19). The stock market suffered from the aftermath of Corona 19, but soon followed a’unvisited path’ with a dramatic rebound. The’Donghak ants’ that largely flowed in during this process contributed to the stock market’s highest performance march.

According to the Korea Exchange on the 23rd, the KOSPI index recorded 2733.68 the day before. It has risen 5.5% this month. The day before, it soared to 2778.65, a new record high. Compared to the year-round low (1439.43) on March 19, when the Corona 19 pandemic was at its peak, a whopping 1339.22p (93%) jumped. The KOSDAQ, which had been at 419.55 during the same period, also jumped more than twice and crossed the 920 line.

The KOSPI and KOSDAQ, which had bottomed out at the level of the global financial crisis, have crossed the 3,000 line and the 1000 line beyond the box range. The number one contributor was definitely an individual investor who was at the forefront of the’Donghak Ant Movement’. Until the 22nd of this year, foreigners and institutions sold 24,7761 billion won and 25,5185 trillion won respectively in the securities market, while individuals alone made net purchases worth 47 trillion 9204. It is the largest ever on an annual basis.

Due to the low interest rate and high-intensity real estate regulations, funds lost to the market entered the stock market. As of the 21st, the investor’s deposit, which is the waiting fund deposited in the securities account for stock purchase, was totaled at 61,344.6 billion won. The balance of credit loans for investing in my stocks also recorded 19,392.4 billion won. All have more than doubled compared to earlier this year.

Kim Hak-gyun, head of Shinyoung Securities Research Center, said, “There is a myth that’individuals are good at amnesty’. “It is characterized by the power of individual investors who bought stocks from the bottom and entered by direct investment rather than investment.”

The Donghak Ant Corps led the securities industry’earning surprise’. Securities companies experienced a sharp decline in earnings due to a large-scale loss in valuation of derivatives due to a sharp decline in the global stock market in 1Q and a contraction in the IB (investment bank) division, the main source of income. Korea Investment & Securities, which had dominated annual net income until last year, recorded a deficit of 133.9 billion won. It was said that the brokerage company that achieved a’half-cut’ was evaluated as being saved.

However, brokerage firms have overcome the first crisis and have achieved a reversal. Even in the panic market caused by Corona 19, the retail sector, such as brokerage (consignment trading), continued surprisingly thanks to individual investors who steadily entered the stock market. The daily average trading value, which was only 1,540 trillion won in the first quarter of this year, jumped from 2,178 trillion won in the second quarter to 27.38 trillion won in the third quarter.

Mirae Asset Daewoo was the first in the industry to announce its pre-tax net income of KRW 1 trillion, and Korea Investment & Securities and NH Investment & Securities also showed a sharp rebound in earnings, making it a super large IB. In particular, Kiwoom Securities, which saw the most’Donghak ant’ effect, took the lead in 3Q. Small and medium-sized companies such as Hyundai Motor Securities, E-Best Investment & Securities, and Hanyang Securities also performed well in many ways.

“In the long term, securities stocks are the most promising in the financial industry,” said Kyu-hoe, a researcher at SK Securities. I looked out.

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