On the 28th, the KOSPI continued to rise above the 2820 line. /Photo = Yonhap News
The growth of large-cap stocks is remarkable amid the domestic stock market breaking the 2800 line and continuing the highs. As the outlook for the future is also positive, the buying trend for large-cap stocks is expected to continue for the time being.
According to the Korea Exchange on the 28th, until the 24th of this month, the KOSPI 200 index, which was mainly composed of large stocks, rose 7.55%. During the same period, it exceeded the KOSPI (6.60%) and KOSDAQ (4.80%) increase rates.
Donghak Ant (individual investor) is the number one contributor to raising the stock price of large stocks. Individuals bought 5889 billion won worth of large stocks this month alone. During the same period, mid-cap and small-cap stocks were net purchases of 132 billion won and 277.5 billion won, respectively.
Samsung Electronics, the owner of the KOSPI(78,300 -0.51%)Including, the individual’s net purchase of large-cap stocks exceeds 2,226.4 billion won. 77% of the total net purchases of KOSPI (2,891.5 billion won) purchased by individuals were directed to large stocks and Samsung Electronics.
Looking at the top stocks of individual net buying, it is clear that large stocks are preferred. The stocks that individuals bought over 1 trillion won this month from KOSPI are Shinpoong Pharmaceutical.(120,500 +7.11%)(1 trillion 2003 billion won), Celltrion(360,500 +10.08%)(1.34 trillion won) and Samsung Electronics (1.4 trillion won) are the only ones. The three stocks hit record highs thanks to individual buying.
In the case of Samsung Electronics, the intraday exceeded the 80,000 won mark due to the improvement of the industry and expectations for each sale.
Photo = Yonhap News
In the background of individuals’ preference for large-cap stocks, there is an expectation that the economy could improve through the development of a novel coronavirus infection (Corona 19) vaccine and the agreement of additional stimulus measures in the US. When the economy recovers, the earnings improvement of large-cap stocks could be visible.
Kim Kyung-min, a researcher at Hana Financial Investment, said, “Expectations for improving performance of large-cap stocks are stimulating individual investment sentiment.”
The uptrend of large-cap stocks is also expected to continue for the time being. Jeonghoon Seo Samsung Securities(40,700 -5.68%) The researcher emphasized that “foreigners sold large-cap stocks earlier this month to realize their profits.”
Meanwhile, last week, individuals sold large-cap stocks worth KRW 1.3 trillion. On the other hand, foreigners and institutions turned to net buying by buying 82 billion won and 1.217 trillion won, respectively.
Yoon Jin-woo, reporter at Hankyung.com [email protected]
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