(Photo = Getty Image Bank)
The KOSPI index is sluggish in the afternoon. This is contrary to the appearance of breathing fire during the morning. Donald Trump’s impeachment issue triggered a strong dollar and the index was negatively affected.
As of 1:43 pm on the 11th, the KOSPI index is trading at 3121.03, down 30.30 points (0.99%) from the previous day. On this day, the index rose sharply as it rose to 3266.23 during the intraday. However, around 12 p.m., the index returned the morning’s rise and fell sharply.
According to Bloomberg News, the Democratic Party of the United States is ready to initiate a proposal to impeach President Trump. This is because the charges of ‘inciting rebellion’ were applied by taking responsibility for the invasion of the assembly of protesters on the 6th. At least 195 Democrats in the House of Representatives have signed the impeachment proposal. The impeachment bill is expected to be put on a vote in the House of Representatives soon.
It is explained that the increase in global stock market volatility and an increase in demand for safe assets triggered a strong dollar, and thus our stock market was negatively affected.
On this day, the dollar index, which represents the value of the dollar compared to the six major countries, recorded 90.06, up 0.27 points (0.3%) from the previous day. The dollar index, which fell to 89.4 on the 5th and reached the lowest level since February 2, 2018 (88.5), recovered to the 90 line again.
Lee Won Buuk Securities(21,300 +0.71%) “As the Trump impeachment issue emerges, the increasing demand for the dollar as a safe asset is negatively affecting the stock market in emerging markets. I will show the appearance of doing it.”
Individuals are defending the index decline with large-scale purchases, but the situation is insufficient. Individuals are buying 3,6848 billion won, while foreigners and institutions are selling 721.1 billion won and 2.877.9 billion won respectively. In program trading, arbitrage trading is 206.4 billion won, and non-arbitrage trading is 1.2 trillion won in net selling, with a total selling of 1.4265 billion won.
Securities stocks are laughing as individuals are flooding in the stock market. Hyundai Motor Securities(14,700 +8.49%)Silver is trading at 14,800 won, up 1250 won (0.23%) from the previous day. Hanwha Investment & Securities(3,040 +8.57%) DB Financial Investment(5,700 +5.17%) SK Securities(956 +4.48%) Yuanta Securities(3,540 +3.21%) Kiwoom Securities(157,000 +3.29%) Kyobo Securities(8,240 +1.98%) Mirae Asset Daewoo(10,300 +1.48%) NH Investment & Securities(12,300 +1.23%) Samsung Securities(44,900 +2.05%) The back is also strong.
Samsung(91,400 +2.93%)Is still on the rise. Samsung Electronics is trading at 9,900 won, up 2100 won (2.36%) from the previous day. It went up to 9,800 won during the intraday, but a significant portion of it was returned.
Defense stocks are strong. Victek(8,090 +17.59%)Silver is trading at 8320 won, up 1440 won (20.93%) from the previous day. SPECO(12,100 +5.22%)It is also running more than 10%. According to the Joint Chiefs of Staff on this day, the situation in which North Korea held a party conference-related parade ceremony at Kim Il-sung Square on the day before was caught. The Joint Chiefs of Staff said that the activity is being closely tracked, including the possibility of this event or rehearsal.
The KOSDAQ index is also on the decline. The KOSDAQ is trading at 959.47, down 28.40 points (2.87%) at the same time.
The won-dollar exchange rate is soaring (weakening the value of the won). In the Seoul foreign exchange market, the won-dollar exchange rate is trading at 1099.6 won, up 9.8 won from the previous day. During the week, it surged over 10 won and touched the 1,100 won line again.
Lee Song-ryul, reporter of Hankyung.com [email protected]