The share price and the won’s value are both falling due to concerns over rising US Treasury yields. As of 10:25 am on the 9th, the KOSPI recorded 2955.17, down 40.94 points (1.37%) from the previous day. It’s been weak for four consecutive days. It was pushed to 2943.5 at one time during the week.
On the morning of the 9th, when the KOSPI fell, dealers are working in the dealing room at Hana Bank’s headquarters in Jung-gu, Seoul. yunhap news
The won is also worth 1,140 won per dollar.
It was foreigners who led the stock price decline. Foreigners are selling 390 billion won worth of net sales, and individuals are selling 60 billion won worth of stocks. Due to the withdrawal of foreign funds, the value of the won is trading at 1140.8 won per dollar, down 7.7 won at the same time (the exchange rate rises). Seo Sang-young, head of investment strategy team at Kiwoom Securities, said, “There is a high concern that foreigners will be sold due to the rise in US Treasury yields and the strong dollar.” On the 8th (local time), the 10-year Treasury bond yield exceeded 1.6% during the intraday. Amid concerns over the US economic recovery and inflation (inflation), it is under the influence of a $1.9 trillion (2100 trillion won) stimulus package that passed the Senate. In the New York stock market, the Dow Jones rose 0.97%, but the Nasdaq (-2.41%) and the Standard & Poor’s (S&P) 500 (-0.54%) fell.
In the top stocks of the KOSPI market cap, it is generally weak except for Hyundai Motor Company (0.22%) and Samsung Biologics (0.29%). In particular, LG Chem (-3.6%), Naver (-3.39%), and Samsung SDI (-4.31%) saw a sharp decline. The KOSDAQ index broke the 900 line during the intraday. It is recording 883.53, down 2.35% from the previous day. It has only been 3 months since December 2, last year (low price 891.61), which fell below the 900 line during the intraday.
Reporter Hwang Eui-young [email protected]
