[2021 증시 진단] “Donghak ants, prepare for volatility and raise awareness of debt.”

© News1 Designer Lee Ji-won

Last year was so hot that it was not an exaggeration to say that it was the’Year of Donghak Ants’ due to the investment craze of individual investors. Donghak ant was the protagonist of the V-shaped rebound in the domestic stock market as well as the unprecedented 2800 era.

1 day <뉴스1>Lee Kyobo Securities (Kim Hyeong-ryul), Mirae Asset Daewoo (Seo Cheol-soo), Samsung Securities (Oh Hyun-seok), Shin Young Securities (Kim Hak-gyun), Shinhan Financial Investment (Yun Chang-yong), SK Securities (Choi Seok-won), KB Securities (Shin Dong-jun, Yoo Seung-chang), Kiwoom Securities (Kim Ji-san) ), Hana Financial Investment (Cho Yong-jun), Hyundai Motor Securities (No Geun-chang), etc., as a result of a survey on the prospect of the New Year’s stock market, the research center heads lowered the expectations raised by Donghak ants this year and the stock market volatility will increase. I advised you to be prepared. He also emphasized raising awareness of’debt struggles’.

Seok-won Choi, head of SK Securities’ center, said, “Until last October, the domestic stock market would have been a relatively’easy market’ for individuals.” “Because it was in the process of recovering stock prices that had plummeted, most of them would have made profits if they bought stocks of excellent companies. I said.

“Since November, a rather difficult situation has been unfolding in the market, and it is possible that the same will be the case this year, so caution is necessary.” “You can increase the rate of return in the year, but in the opposite case, you may not have a good rate of return.”

“Because it is a market with a high valuation based on the past, there is a risk that volatility may increase,” said Choi Seok-won, head of the center. “Consigning funds to professional investors may be a good way.”

Chang-Yong Yoon, head of Shinhan Financial Investment Center, said, “It is expected that the stock market will peak in the first half of the year due to the normalization of economic activity this year. If the crisis countermeasures of each country are normalized at the same time as the economic recovery, noise related to marginal companies may appear. It should be noted that some uncomfortable variables may appear in the second half of the year as the stance is also expected to maintain “check”.”

Kim Ji-san, head of the Kiwoom Securities Center, said, “It was a correct judgment that individual investors made net purchases in earnest from before the plunge in March, but momentum has also passed to foreigners after November.” “If expectations come true, we have to look back. “I have to see whether it is a level or an excessive level due to a simple shifting phenomenon.” He said, “After all, you should always stick to the basics, but the basics here are the company’s performance.”

Kim Hak-gyun, head of the Shinyoung Securities Center, also stressed, “The surge like last year is a very exceptional case.” He said, “If you invest in stocks with money that can endure time, you have to invest with extra money because the probability of success increases.”

Seo Cheol-soo, head of the Mirae Asset Daewoo Center, also advised, “This year, we should lower our expectations for return and plan an exit strategy well,” and advised, “We should pursue asset profitability and stability at the same time through asset allocation rather than intensive investment.”

The heads of the research center emphasized that it is necessary to raise awareness about the balance of credit transaction loans, so-called’debt investments’, which are invested by borrowing stocks held as collateral. As of the end of last year, the balance of credit loans was 19,2128 billion won, which is 6 times higher than that of March 25 (3,941 billion won), which was the lowest point at the time of the corona 19 crash.

Yoon Chang-yong, head of the KB Securities Center, said, “As the domestic stock market reached an all-time high, expectations have risen, and as the ultra-low interest rate is added, there are signs of spreading the’debt investment’ phenomenon.” “Because there is a possibility of an adjustment in the stock market around March, Considering this, you have to judge about’debt investment’.” Choi Seok-won, head of SK Securities Center, also said, “We need to avoid debt investment by buying stocks with debt.”

There is also an analysis that a structural change in the stock market began with the purchase of individual investors last year. Yong-joon Cho, head of Hana Financial Investment Center, said, “Trend and structural changes have begun not as a temporary phenomenon due to the increase in liquidity, but with individual purchases.” “Considering liquidity and smart money, the power of individuals will continue this year.”

He added, “It is still the beginning of the economic recovery, and we ask for long-term investment in excellent companies by industry in Korea.”

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