The KOSPI fell for 4 consecutive days and fell below the 3,000 line. On the 29th, the KOSPI finished the market at 2,976.21, down 92.84 points (3.03%) from the previous day. yunhap news
The KOSPI dropped the largest in five months on the 29th and gave out 3,000 lines. This is the result of a 4th straight downtrend due to the recent decline in global stock investment sentiment due to overheating concerns over the’rally’ at the beginning of the year. It is analyzed that the anxiety triggered by the’game stop incident’ in the United States further weakened overall investment sentiment.
4 consecutive trading days decline due to foreigner churn
On the 29th, the KOSPI closed the deal at 2,976.21, down 92.84 points (3.03%) from the previous day. This is the first time since the 7th that the KOSPI fell below the 3,000 line. The decline was the largest in five months since August 20 (3.66%) last year, while the adjustment continued for four consecutive trading days.
On this day, the selling rate of foreigners was strong. Foreigners who are working to realize profits every day net sold 1.4 trillion won in the KOSPI alone. The scale that foreigners have sold over the past four days amounts to about 5.7 trillion won. Seo Sang-young, a researcher at Kiwoom Securities, said, “Except for some industries, foreign sales are spreading in most industries such as electric and electronic products.” There is” he explained.
The institution also induces a decline in the index by net selling 250 billion won. Individual investors who started to buy at a low price released 1.7 trillion won to buy stocks. In the plunge this week, individuals showed off their financial power of net purchases of close to 10 trillion won in both the KOSPI and KOSDAQ markets. On the same day, KOSDAQ also bought 210 billion won worth of individuals, but the sales tax centered on institutions expanded and ended sharply by 3.38%.
Adjustment bill bandit… “to keep the further decline open”
For the time being, the possibility of stock market adjustment is also increasing. The short-term overheating and fatigue of each country’s stock markets are negative factors every day, and the recent negative economic judgment of the US Federal Reserve System (Fed) and concerns about austerity of the People’s Bank of China act as a trigger for adjustment. In fact, stock markets in major Asian countries such as Japan’s Nikkei 225 (-1.89%), China’s Shanghai General (-0.63%) and Hong Kong Hang Seng (-0.94%) were also weak.
In addition, the aftermath of the game stop-foot short-selling war in the US is also a catalyst for the overall stock market adjustment. Some analyzes say that hedge funds, which suffered losses due to the recent surge in stock prices of strategic short-selling stocks, started to sell heavily in other stock markets to raise funds.
Lee Kyung-min, a researcher at Daishin Securities, said, “Following the US Fed’s judgment on the economy, the volatility of the US stock market showed extreme volatility and negatively affected domestic investment sentiment.” “There is.”
However, experts believe that the recent downtrend will not lead to a downward trend. It is not very likely that the index will rise again as the pressure that the index has risen steeply is high, but it is still too early to say that the long-term uptrend has declined.
Researcher Lee Gyeong-min said, “We need to open up the possibility of an additional decline due to anxiety due to the departure of the 3,000 line,” but also diagnosed that “the opportunity to buy more and overweight is approaching in terms of mid- to long-term investment strategies.”
In-hwan Ha, a researcher at KB Securities, said, “At the moment, we need to be careful about the possibility that the austerity issue in China will continue, but there is a possibility that the issue will expand around May, rather than right now.” There is,” he advised.
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