On the 29th, the KOSPI fell in dividends and institutional investors sold over 1.9 trillion won, but the reported price was again renewed thanks to the purchase of’Donghak Ants’ over 2 trillion won. Individuals who escaped the issue of the capital gains tax burden of major shareholders this year led the reported prices of the KOSPI and KOSDAQ indices by net buying close to 2.5 trillion won in stocks in both major markets.
On this day, the KOSPI rose 0.42% from the previous day to 2820.51. It is an all-time high. The KOSDAQ index rose 3.28% on the same day to 957.41, recording a reported price since the’KOSDAQ bubble’ in 2000. The reason that the stock market broke expectations and defended against a plunge in dividends on this day is the result of the ‘Donghak ants’ (individuals investing directly in domestic stocks). According to the Korea Exchange, the institution sold a net worth of KRW 1.973.4 trillion in the securities market on that day. It has poured out the largest amount of sales since it sold net sales worth KRW 1,184.4 billion on June 11th. Foreign investors also sold 3106 billion won worth of net sales. The demand for investment aimed at dividend yields has disappeared at once due to the fall in dividends. Reduced dividend refers to the trading day on which dividends cannot be received any more after the previous day’s dividend threshold has been exceeded.
On the other hand, individuals net bought 2,191 trillion won worth in the securities market on that day. This is the highest number since the net purchase of 2 trillion 2206 billion won on November 30th.
Individuals net sold a total of 2.13 trillion won worth in three trading days on the 23rd to 28th, ahead of the deadline for avoiding capital gains tax on the 28th. It means that the stock sold for three days was bought again on the same day.
In the KOSDAQ market, individuals net bought 2724 billion won and foreigners worth 111.6 billion won. The institution sold 3265 billion won worth of net sales. In both markets, individuals net bought a total of 2,469.4 billion won, breaking the daily net purchase record.
When institutions and foreigners pour out their sells according to their respective issues, the trend of defending the index by digesting them has been repeated again.
The stock that defended the KOSPI on this day was growth stocks. Investors are predicting that growth stocks highlighted by the Corona 19 crisis will be promising next year.
The fact that the stock price does not drop even on the day of the dividend reduction means that next year’s earnings are expected to be promising. The stock with the largest share price surge is the secondary battery manufacturer. Samsung SDI’s share price rose 7.51% on that day, and SK Innovation rose 2.81%. This is the result of the demand for investment, which predicted that the EV market will continue to grow rapidly after the Joe Biden administration was launched in the United States in February next year. Bio also caught the attention of investors as the stock price surged on that day.
On that day, Samsung Biologics’ share price rose 4.18% and Celltrion’s share price rose 10.08%, drawing attention. This proves that the Corona 19 incident will still affect the stock market next year. On the other hand, traditional high dividend stocks paid off the dividend on the day. KT&G’s stock price fell 5.98% on the same day to reach 83,300 won. Financial stocks also faced a frost on the same day, with KB Financial Group falling 4.82% on the day, Hana Financial Holdings 4.88%, and Shinhan Holdings 4.48%.
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