Only beneficiaries of rising oil prices and interest rates will survive… KOSPI 3000 collapse on institutional sale

In anticipation of passing additional stimulus measures from the United States, KOSPI, which showed a strong appearance at the beginning of the 8th, gave 3,000 lines to the agency’s sale offensive. The fear of rising interest rates has overwhelmed expectations for an economic recovery.

In particular, even in the midst of a sharp decline, the steel and shipbuilding sectors, which are economically sensitive sectors, and the banking, financial, and insurance sectors that benefit from rising interest rates, rose strongly.

On the 8th, KOSPI closed trading at 2996.11, down 30.15 points (1.00%) from the previous day.

The atmosphere was good just after opening on this day. As the US Senate passed the $1.9 trillion stimulus plan proposed by President Joe Biden to overcome the spread of the novel coronavirus infection (Corona 19), on the 6th (local time), the KOSPI Immediately after opening, soared to 3055.65 (0.97%↑ compared to the previous day).

However, it immediately turned downward at 11:30 am under downward pressure. This is because the agency increased the selling amount. Foreigners, who also showed a buying trend in the morning, also joined the selling ranks.

On this day, institutions and foreigners sold stocks worth 378.3 billion won and 129.3 billion won, respectively. Individuals bought 526 billion won worth of stocks, but it was not enough to defend the index.

It seems that the sale offensive by institutions and foreigners was driven by fear of rising interest rates. If the interest rate raised by the money released by the US as an additional stimulus to escape the economic recession caused by Corona 19, it could lead to the valuation burden of stocks that were struggling with growth expectations.

Seo Sang-young, a researcher at Kiwoom Securities, said, “Passing the $1.900 trillion stimulus package (US) can increase the speed of the economic recovery, so it is expected that a buying trend centered on economically sensitive stocks will inflow.” Considering that it is a factor that can increase the speed, it will still be inevitable to increase volatility.”

In fact, only banks, steel and metals, and financial sectors, among the major industries in the KOSPI, showed an increase of around 1%. The telecommunications business ended with a strong bond.

On the other hand, non-metallic minerals, pharmaceuticals, paper and wood, chemistry, textiles and clothing, machinery, electricity and electronics, and medical precision were largely omitted.

Among the top stocks by market capitalization, only POSCO, Kia Motors, and LG H&H rose. Among the declining stocks, LG Electronics, Kakao, Celltrion, SK Hynix, Samsung Biologics, Samsung SDI, and NAVER fell by 2-3%.

On this day, 301 stocks rose and 551 stocks fell on the KOSPI.

The KOSDAQ ended at 904.77, down 18.71 points (2.03%) from the previous day.

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