‘Sale’ with organizations and foreigners
3000 line collapse in 7 trading days
On the 8th, the KOSPI fell below the 3000 line again after 7 trading days due to the sale of both institutions and foreigners.
On this day, the KOSPI fell 30.15 points (1.00%) from the previous trading day, closing at 2996.11, falling for three consecutive days. It is only 7 trading days since the 24th of last month (2994.98) that the KOSPI fell below the 3000 line based on the closing price.
In addition, after the closing price of KOSPI on January 7th first exceeded the 3000 line, it fell below the 3000 line for the third time following January 29 (2976.21) and February 24. In the previous two cases, it recovered the 3000 line in one day.
In the securities market, institutions and foreigners net sold 3787 billion won and 129.3 billion won, respectively, leading the index decline. In particular, pension funds sold 274.1 billion won worth, and continued a net selling march for 46 trading days since December 28 last year.
Individual investors net bought 5265 billion won, but it was not enough to defend the index.
The index rose to 3055.65, up close to 1% at the beginning of the market on the back of the recovery of investment sentiment led by the passage of the US economic stimulus package to the Senate and strong employment indicators. However, as the passage of stimulus measures highlighted the burden of rising US Treasury yields, on the one hand, sales poured out.
Exchange rate movement also increased the intensity of net selling by foreigners during the intraday.
On this day, the won-dollar exchange rate in the Seoul foreign exchange market ended at 1133.2 won, up 7.1 won from the previous trading day.
Lee Kyung-min, a researcher at Daishin Securities, said, “The good economic indicators and expectations for the implementation of stimulus measures led to the expectation of an accelerated economic recovery, but at the same time, it led to a burden of rising interest rates.” This has been enlarged,” he explained.
The KOSDAQ index ended at 904.77, down 18.71 points (2.03%) from the battlefield. In the KOSDAQ market, foreigners and institutions net sold 17.8 billion won and 14.8 billion won respectively. Individuals net bought 205.9 billion won.
/yunhap news
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