On the 6th, the KOSPI index rose 2.77 points (0.09%) and began trading at 2993.34, breaking through the first 3,000 line in history. /Photo = Yonhap News
On the 6th, for the first time in history, the KOSPI broke through the intraday 3000 line, but it failed to settle as foreigners and institutions poured out the property. As the index closed down, the highs rally stopped after seven days. Individuals net bought over 2 trillion won in the KOSPI alone, but could not prevent the index decline. Experts predicted that a sideways trend may continue for the time being, but the possibility of landing at the 3000 line remains.
KOSPI breaks through 3,000 intraday in 15 years and 3 months
On this day, the KOSPI index closed at 2968.21, down 22.36 points (0.75%) from the previous day. The Kospi broke through the intraday 3000 line in 40 seconds from the start of the market. It started at 2999.34, up 2.77 points (0.09%) from the previous day and climbed to 3027.16 at one time during the week.
It has been 13 years and 5 months since the KOSPI surpassed the 3,000 line during the intra-day period on July 25, 2007. It took 18 years and 3 months for the KOSPI index to break from the 1000 line (March 1983) to the 2000 line.
However, as foreigners and institutions continued to sell during the intraday, the index continued to fluctuate every 30 minutes and eventually turned to a decline. Individuals received the volume and supported the stock price, but it was not enough to raise the stock market.
Foreigners and institutions net sold 669.7 billion won and 1.3742 trillion won respectively. On the other hand, individuals bought 2,239 trillion won. Individuals are betting on the rise of the KOSPI by buying 3,783.3 billion won this year.
Lee Won, a researcher at Bu-guk Securities “As reports that the Democratic Party is advantageous in the US elections in Georgia, the US gift was missing and it had a negative impact on the supply and demand of foreigners and institutions.” There is a possibility that it will go sideways,” he said.
Photo = Yonhap News
Most of the top stocks by market capitalization were sluggish. Samsung(82,200 -2.03%)Ended at 82,200 won, down 1700 won (2.03%) from the previous day. Hyundai Motor Company(203,000 -3.10%) Samsung C&T(139,500 -3.46%) Kia Motors(62,200 -2.35%) LG Household & Health Care(1,590,000 -1.24%) POSCO(280,000 -1.75%) The decline of the back was large. On the other hand, SK Hynix(131,000 +0.38%)Wakakao(395,500 +0.64%)Closed slightly higher.
The KOSDAQ index also fell. The transaction ended at 981.39, down 4.37 points (0.44%) from the previous day. The KOSDAQ rose to 990.88 during the intraday, but fell in the arms of foreigners and institutions. Foreigners and institutions are superior in selling 1128 billion won and 242.2 billion won respectively. Individuals bought 3894 billion won.
The possibility of landing the 3000 line still remains
Experts analyze that in the long run, it is not unreasonable to settle the 3000 line. Ko Tae-bong, head of Hi Investment & Securities Research Center, said, “The natural phenomenon of breaking through the KOSPI 3000 line” said, “Confidence that it can transform from a traditional company into a future company is raising the top of the stock market.”
Kyobo Securities(7,870 +3.83%) The head of the research center said, “As the stock market is not at its peak, it is highly likely that it will settle at the 3000 line.” Although the pace of the stock market’s rise has accelerated due to the expectation of an economic recovery from the spread of the Corona 19 vaccine, it is analyzed that the upside may still continue.
The semiconductor, secondary battery, and chemical industries were selected as the industries that will lead the KOSPI 3000. “We need to pay attention to these sectors, where both performance and liquidity are supported,” said Yoo Seung-chang, head of the research center of KB Securities. “A full-fledged number due to improvement in earnings will appear at the end of this year.”
The won-dollar exchange rate closed down (stronger won’s value). In the Seoul foreign exchange market, the won-dollar exchange rate ended at 1085.6 won, down 2.0 won from the previous day.
Yoon Jin-woo, reporter at Hankyung.com [email protected]