#Mirae Asset Daewoo(10,000 +2.77%)Jang-mo, an office worker in her 40s, hurriedly executed a stock mortgage loan the day before. He was informed that new loans for securities mortgage loans will be suspended from the 20th. Jang said, “I took a loan with stock as collateral and invested in other stocks,” he said. “I received a call that the loan would be stopped and ran a loan in a hurry. It seems like I got on the last train.”
On the 19th, the KOSPI index is showing an increase compared to the previous trading day. /Photo = News 1
With the outlook that the domestic stock market, which has settled at the 3,000 line, will show a’high, low’ trend this year, the’debt investment’ craze for investing through loans is intensifying. An increasing number of brokerage firms are stopping credit loans amid warnings of’debt investments’ as economic heads such as Hong Nam-ki, deputy prime minister of the economy and Lee Ju-yeol, governor of the Bank of Korea, warned of overheating the stock market.
According to the Financial Investment Association on the 19th, the balance of credit transaction loans as of the 15th recorded 21,296.2 billion won. It is the highest since 1998, when related counting began. Credit loans surged more than 2 trillion won this year alone. After surpassing 20 trillion won on the 7th, it increased 1 trillion won in 5 trading days.
As credit loans are soaring, individual stock investments are also increasing. Individuals net bought 14.55 trillion won in the domestic market (KOSPI + KOSDAQ) until the day before this year. It bought 22% of last year’s annual net purchase (63.808 trillion won) in two weeks.
An official at a securities firm said, “Bank credit loans and securities firms credit loans would have been used as investment funds,” he said. “Even if the growth rate may decrease, the increase is expected to continue for the time being.”
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As credit loans rose sharply, securities companies began to adjust their loan limits. Samsung Securities(41,900 +3.20%)And Daishin Securities(12,700 +0.40%)Have stopped credit loans on the 13th and 18th, respectively.
Mirae Asset Daewoo will block new loans secured by securities, including automatic loans secured by unpaid repayment from the 20th. However, it is possible to buy and sell credit loans, sell-to-sell loans, and microautomatic loans. NH Investment & Securities(11,650 +2.19%)Also, from the 21st, credit transactions and securities mortgage loans will be temporarily suspended. However, the maturity of the loans held can be extended if the conditions are met, and the loans secured for sale and exchange of collateral items are possible.
Securities companies explain that they have suspended credit loans under the Capital Markets Act. The Capital Markets Act stipulates that the total amount of credit contributions by securities companies does not exceed 100% of equity capital. It can be interpreted as meaning that the limit of securities companies has run out as individual debt investments increase.
Experts predict that personal net buying will decline as securities firms’ credit loans decline.
Lee Eun-taek, a researcher at KB Securities, said, “The government officials are concerned about debt and securities companies are continuing to stop credit loans. If short selling in March is allowed, the stock price may have a sharp decline, so the stock market should not overheat before that. “He said.
Yoon Jin-woo, reporter at Hankyung.com [email protected]
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