‘Forvia’ in opposition to stock market adjustment… Debt 2 Ant’Are I Trembling’

[이데일리 김성훈 기자] As the domestic stock market, which was soaring without knowing the end of the year, is staggering in the aftermath of the so-called’Gamestop’, individual investors are trembling with anxiety about’counter-trading’. Anxiety is aggravating as the number of’dangerous transactions’ that invest in debt in a rare bull market increases. It is explained that careful investment is necessary as the adjustment phase is expected to continue for some time while the game stop issue is currently underway.

On the afternoon of the 29th, when the KOSPI index fell below the 3000 line for 4 consecutive days, the dealing room at Hana Bank headquarters in Jung-gu, Seoul (Photo = Yonhap News)

According to the Financial Investment Association on the 31st, as of the 29th, the amount of counter sales compared to the receivables from consignment sales was totaled 25.2 billion won. It has exceeded 25 billion won for two consecutive days following 25.9 billion won the previous day. The proportion of counter sales to accounts receivable also recorded 7.4% (7.8% the previous day), exceeding the 7% level two days in a row. Compared to 5.9 billion won (1.6% of counter-trading ratio) on the 30th of last month, a month ago, counter-trading has increased by nearly five times.

Counter-trading refers to a method of forcibly selling the stock when the stock valuation falls below a certain level of margin (approximately 140% of the stock collateral ratio) after a securities company lends funds to investors. The selling quantity is calculated at the lower limit of the previous day’s closing price and sold at the same time before the opening of the market. According to the Financial Investment Association, the balance of credit loans was 21,244.4 billion won as of the 29th. Although it fell for three days in a row due to measures to halt loans by securities companies, conscious of the rapidly rising debt, it is a 9.7% increase compared to earlier this month (19,3522 billion won).

[그래픽=이데일리 이미나 기자]

The stock market advises that the contraction of the domestic stock market is directly linked to counter trading, but it is too early to think about it. Seo Jeong-hoon, a researcher at Samsung Securities, said, “The game stop issue is more than a simple event, it stimulates a sense of alertness in the market as a whole.” said.

Kyobo Securities Center Director Kim Hyung-ryul emphasized, “It is time to think about the appropriate direction while waiting for the volatility to ease.” .