“But I’m investing” Ants that keep the dawn on the KOSPI sideways

Input 2021.02.22 16:34

Officer Choi Mo, 34, recently woke up at 3 am and 5:30 am and looked at her cell phone. This is to confirm the stock price of Microsoft (MS) and the bitcoin price that he invested. Choi took money from domestic stock accounts and bought US stocks and cryptocurrencies (virtual currency and coins) as the KOSPI index, which had risen with a terrifying momentum, slowed this month.

Choi said, “I have to go to work the next day, so I can’t stay awake all morning, but I’m going to look at the situation and respond appropriately before the closing of the market.” said.

Individual investors who have led the domestic stock market bull market since last year through the’Donghak Ant (individual investor) movement’ have turned into Seohak ants and coin ants as the domestic stock market sideways and stayed up all night. This is because US stocks are traded from 11:30 p.m. to 6 a.m. Korean time, and coin transactions are conducted 24 hours without closing the market.

According to the Korea Exchange on the 22nd, the trading value of the securities market on the day was 18,515 trillion won, a 35% drop from the average daily trading value of 26,4778 billion won last month. Investor deposits, which are pending funds to buy stocks, also decreased. According to the Financial Investment Association, investor deposits from 68 trillion 17.2 billion won as of the end of last month decreased by about 3 trillion won to 65,135 billion won as of the 19th.

From the 1st to the 22nd of this month, the KOSPI index moved sideways between the 3050 line and the 3160 line. Compared to the rise from the 2940 line to the 3200 line last month, the width has decreased. Compared to the US market, the difference is more pronounced. The KOSPI index rose only 3.47% this month, but the US stock market Nasdaq and Dow rose 6.15% and 5.04%, respectively.

Then, individual investors paid more attention to the US stock market than the domestic stock market. Domestic investors’ investments in the US stock market increased this month from last month. According to Savero, the Securities Information Portal of the Korea Securities Depository, the balance of foreign currency securities deposits and settlements held by domestic investors was 49.4 billion won this month (February 1-February 18) from $ 4,57.37 billion (about 50,77 billion won) in January. It increased to 86.6 million dollars (about 54.93 trillion won). Considering that February is not over yet, it is likely to continue.

An official from a financial investment industry said, “The increase in the storage balance in the US market can be seen as improved investment sentiment of domestic investors in the US market.”

In the market, it is reported that individual investors are increasingly investing in cryptocurrencies such as Bitcoin by taking money from domestic stocks.

NH Nonghyup Bank, Shinhan Bank, and K-bank, which provide real-name accounts to major domestic cryptocurrency exchanges, totaled 1.4 million newly opened accounts last month. This is an increase of about 30% from January of last year, which means that the number of new investors entering cryptocurrency investment has increased.

In order to invest in Bitcoin, you need to have an account that the bank has verified. Bithumb (NH Nonghyup Bank), Upbit (K Bank), Coinone (NH Nonghyup Bank), and Kobit (Shinhan Bank) have completed real-name accounts in partnership with the current bank. The total transaction volume of Bithumb, the largest virtual asset exchange in Korea, surged 1195% last month compared to a year ago.

The market is rising sharply with expectations that Bitcoin, a cryptocurrency leader, can become the “second gold” and the remarks of Elon Musk Tesla’s CEO. With the dollar’s declining value, Bitcoin could function as an asset to replace gold. Here, Musk’s CEO publicly announced that he was a “Bitcoin Advocate,” followed by Tesla’s announcement of a $1.5 billion purchase of Bitcoin on the 8th. Bitcoin was traded at 65 million won in Korea until the day before, rising by about 64% only this month. Currently, the price has dropped to around 63 million won.

However, there is also an analysis that this trend will be temporary. Noh Geun-chang, head of the Hyundai Motor Securities Research Center, said, “The domestic stock market has risen sharply with semiconductors, automobiles, eco-friendly, and rechargeable batteries, but now it seems to be stagnating due to the disappearance of good news as the anticipation for Apple cars and the cold wave in Texas disappears.”

He predicted, “In the long term, the prospect that Korean companies will perform well in the fields of semiconductors and eco-friendly industries is predominant, so coin transactions with high volatility are likely to be temporary.”