(Photo = Getty Image Bank)
The KOSPI index is showing an uptrend at the beginning of the market thanks to individual buying.
As of 9:8 am on the 20th, the KOSPI index is trading at 3127.10, up 34.44 points (1.11%) from the previous day. The index on this day started at 3115.04, up 22.38 points (0.72%) compared to the previous trading day, and continues to rise.
Last night, Finance Minister Janet Yellen actively emphasized the need for stimulus measures and blown up the domestic stock market. US stocks closed higher. The Dow Jones 30 Industrial Average closed at 30,930.52, up 116.26 points (0.38%) from the battlefield. The Standard & Poor’s (S&P) 500 index also rose 30.66 points (0.81%) to 3798.91, while the Nasdaq index rose 198.68 points (1.53%) to 13197.18.
At the Senate Financial Committee’s approval hearing, Nominee Yellen reaffirmed his willingness to boost the economy through active fiscal expenditures and supported investment sentiment for risky assets in general.
He repeatedly emphasized the need for active finance, including an additional $1.9 trillion in stimulus proposed by President-elect Joe Biden. The scheduled inauguration of Biden’s president-elect the next day helped to maintain the bullish atmosphere of the stock market.
Seo Sang-young, a researcher at Kiwoom Securities, said, “The strong performance of large technology stocks in the US stock market raises the possibility of improving investment sentiment, but the domestic impact is limited given that it has already been sold to some extent.” We expect the stock market to continue,” he said.
In the securities market, individuals are net buying 543.6 billion won. Foreigners and institutions have the advantage in selling 183.8 billion won and 372 billion won, respectively.
Most of the stocks with the top market cap are on the rise. Apple’s electric car business, Kia Motors(94,100 +12.83%)Kia Motors’ share price soared 13% as the news that it could be taken over by Kia Motors. SK hynix(133,000 +1.92%), Celltrion(321,500 +2.88%)It is also recording a 2% increase.
The KOSDAQ index is also on the rise. At the same time, the KOSDAQ index is trading at 962.95, up 5.20 points (0.54%) from the previous day. The index started at 959.52, up 1.77 points (0.18%) compared to the previous trading day.
Individuals are in net buying of 25.5 billion won, and foreigners and institutions have an advantage in selling 19.7 billion won and 5 billion won, respectively.
In the Seoul foreign exchange market, the won-dollar exchange rate as of 9:6 am is trading at 1100.3 won, down 2.6 won from the previous trading day.
Eunji Cha, reporter Hankyung.com [email protected]
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution