Exchange·Gold Trade Association, Capital Market CEO Conference
(Seoul = Yonhap News) Reporter Do-Hoon Kim = The index is displayed on the screen of the Smart Dealing Room at KB Kookmin Bank Yeouido Branch in Yeouido, Seoul on the afternoon of the 14th when KOSPI closed the market with Kang Bo-hap.
On this day, KOSPI finished trading at 3,149.93, up 1.64 points (0.05%) from the previous trading day. [email protected]
(Seoul = Yonhap News) Reporter Kim A-Ram and Park Won-hee = It was diagnosed as raising the stock price as household financial assets flow into the stock market while household income is stagnant due to low interest rates.
Kim Hak-gyun, head of the Research Center at Shinyoung Securities, made this analysis at the presentation on the theme of the’KOSPI 3,000 Breakthrough Capital Market CEO Discussion’ held in the conference room of the Yeouido Exchange in Seoul hosted by the Korea Exchange and the Financial Investment Association.
“Last year, our stock market rose the most among global countries, and the explosive inflow of private investors raised the stock price.” “In January of this year, 11 trillion won came in for 5 trading days. This is the first inflow intensity seen as an analyst for 24 years. “He said.
“It is not money that has fallen from the sky, but the financial assets accumulated so far cannot beat the low interest rate and enter the stock market.” It amounts to 1,931 trillion won,” he explained.
He judged that “the nature of the money coming into the stock market is that there are structural factors due to low interest rates and real estate prices that are too high to buy a house, and because it is difficult to owe debts, there are some things that come in stock.”
“The reason for the stagnation of Korean household income is the decline in interest income due to the sluggish self-employment and low interest rates,” he stressed. “Stock investment is a good choice for asset growth.”
He added, “The only drop in the KOSPI for the third consecutive year was from 1995 to 1997 during the foreign exchange crisis, and there was no drop for the second consecutive year in the 2000s.” .
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Stock market CEOs who attended as debaters did not spare good reviews and expectations for the domestic stock market in the KOSPI 3,000 era.
Lee Hyun-seung, president of KB Asset Management, emphasized, “The factors that led to KOSPI’s 3,000 are the increase in global liquidity, policies of each country, improvement of Korean companies’ performance and securing growth engines, and personal funds represented by the’Donghak Ant Movement’.”
He added, “The biggest reason that individual investors emerged as market subjects is to resolve the information imbalance between individuals, institutions, and foreigners,” he added. “Individuals obtained market information in real time through various channels such as YouTube and became a’smart ant’.” .
Park Tae-jin, CEO of JP Morgan Securities, said, “It is true that Korea’s quarantine has given a positive impression abroad,” and said, “It is a situation where the Korean stock market can receive a premium because the government policy also has a positive effect, whether intended or not.” .
He said, “There is great interest in emerging markets around the world,” he predicted, “The inflow of funds from emerging markets is expected to continue in 2021, which will be very good for the Korean stock market.”
CEOs drew a line on concerns over whether the stock market was overheating recently and highlighted the positive side.
“There is a view that the stock market is overheating as the stock market is revitalized recently, but I see it differently,” said Na Jae-cheol, head of the Financial Investment Association. “It should be seen as a shift in the capital market paradigm so that our stock market is suitable for innovative and adventurous businesses.” did.
In addition, he added, “Capital market development is necessary for business growth, and stock market growth is beneficial to investors.”
SK Securities President Kim Shin said, “In the global market, Korean real market prices are not low, but only stocks were undervalued due to various discount factors,” he said. “It is difficult to see how much the index has risen over the past year, based on the bubble.”
“Rather, it is not very fast because it has risen to 3,000 points in 14 years after 1,000 points in 1989 and 2,000 points in 2007,” he explained.
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2021/01/14 17:31 sent