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The KOSPI index has rewritten an all-time high again.
As of 9:2 am on the 8th, the KOSPI index is trading at 3057.99, up 26.88 points (0.88%) from the previous day. During the intraday, it soared to 3059.63, breaking the record high during the week.
The New York stock market closed higher last night. On the 7th (local time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average rose 211.73 points (0.69%) from the previous trading day to 31,041.13. The Standard & Poor’s (S&P) 500 index jumped 55.65 points (1.48%) to 3803.79 over the same period, while the NASDAQ index jumped 326.69 points (2.56%) to 13,067.48. The Dow index crossed the 31,000 line for the first time in history, the Nasdaq 13,000 line, and the S&P 500 3800 line.
Biden was finally confirmed as the next U.S. president, and the Democratic Party took over the Senate, boosting the index. This is because political uncertainty in the United States has greatly eased. The U.S. Congress officially confirmed Biden’s victory in the presidential election at a joint Senate and House committee the day before. It was concluded that the rule of parliament was also transferred to the Democratic Party. In the final vote of the Georgia Senate, the Democrats won both seats and succeeded in seizing the Senate.
Good economic indicators also led the share price to rise. The US Department of Labor announced last week that the number of unemployment insurance claims fell by 3,000 from the previous week to 787,000 (seasonal adjustment). Concerns have declined over the hitting the job market due to the recurrence of the novel coronavirus infection (Corona 19).
The Supply Management Association (ISM) announced in December that the service industry purchasing managers index (PMI) rose from 55.9 to 57.2 last month. Contrary to concerns, the indicators have improved.
Sang-young Seo, researcher at Kiwoom Securities, said, “On this day, Samsung Electronics(83,400 +0.60%)“In addition, it is necessary to pay attention to the tentative performance of the company,” he said. “In addition, the breakthrough of $40,000 in bitcoin, expectations for improvement in Apple’s earnings, and the surge in Tesla will also have an impact on domestic related stocks.”
Individuals are buying 187.9 billion won, while foreigners and institutions are selling 34.7 billion won and 159.8 billion won each. Program trading has the advantage of selling a total of 75 billion won, with an arbitrage transaction price of 50.3 billion won and a non-arbitrage transaction price of 24.7 billion won.
Electric vehicle-related stocks are strong. Hyundai Motor Company is trading at 240,000 won, an increase of 34,000 won (16.5%) from the previous day. Mando P&E Solution’s excellent AMS is also showing strong strength at 3-6%.
Secondary battery-related stocks are also rising. SK Innovation is recording 271,000 won, up 8,000 won (3.04%) from the previous day. LG Chem’s Samsung SDI is also running in the 1-2% range.
The share price of Tesla, an electric car maker in the US, surged by $60.06 per share (7.94%) from the stock market overnight. With the realization of the’Blue Wave’, where the Democratic Party dominates the White House and the Senate and House of Representatives, the expectation that it will benefit from the policies of the Biden administration, which pushes eco-friendly policies, increased.
Stocks related to cryptocurrency are also rising rapidly. Bident is trading at 11,350 won, which has soared to the price limit (29.86%), and IOK T Scientific Woori Technology Investment Widget is also showing an increase in the 11-22% range.
Bitcoin price exceeded $40,000 for the first time ever. According to Coinmetrics quoted by CNBC on the 7th (local time), at 1:15 pm on the day, the price of bitcoin was traded at $40,188 (about 43.89 million won) per piece. After the global pandemic of the new coronavirus infection (Corona 19), enormous liquidity has been released, and major contributions were made to buy.
The KOSDAQ index also soared to the chin of the 1000 line. The KOSDAQ is trading at 993.11, up 4.23 points (0.43%) from the previous day. During the intraday, it soared to 995.22 and recorded a new 52-week high.
The won-dollar exchange rate is soaring (the value of the won is falling). In the Seoul foreign exchange market, the won-dollar exchange rate is trading at 1093.2 won, up 5.9 won from the previous day. The overall preference for risky assets is appearing amid falling expectations for Blue Wave, but it is interpreted that the US dollar is rising due to rising US Treasury yields and realizing profits.
Lee Song-ryul, reporter of Hankyung.com [email protected]