![[SEN투자자략]Tesla’s Bitcoin surge… The impact of the domestic stock market](https://img.sedaily.com/web/common/sedaily.jpg "[SEN투자자략]Tesla’s Bitcoin surge… The impact of the domestic stock market")
[서울경제TV=김혜영기자] Last night, the three indexes of the New York stock market hit a record high again. This is attributed to the increased likelihood of the US Congress passing additional large-scale fiscal stimulus measures. Along with this, news was reported that Tesla CEO Elon Musk had bought $1.5 billion (1.7 trillion won) worth of bitcoin, and the price of bitcoin broke the reported price, and related payment system and semiconductor stocks continued to rise. The domestic stock market is also paying attention to whether related stocks can be differentiated.
The Dow Jones Index, which rose for six consecutive trading days on the New York Stock Exchange (NYSE) on the 8th (local time), closed at 31,385.76, up 237.52 points (0.76%) from the previous year. The S&P 500 index increased 28.76 points (0.74%) from the battlefield to 3915.59, and the Nasdaq index centered on technology stocks rose 131.35 points (0.95%) to 1,3987.64.
Expectations of additional economic stimulus measures for the’Biden Pyo’ of the United States contributed to the index as a good stock market. Treasury Secretary Janet Yellen said, “If President Joe Biden’s fiscal stimulus passes through Congress, the US economy could return to full employment within a year.”
Among them, Tesla announced that it has invested $1.5 billion in Bitcoin as a measure to provide flexibility to further maximize cash returns. In the near future, the plan is to enable the purchase of its own vehicles through bitcoin. As a result of this, Bitcoin once exceeded $44,000.
Along with this, the news of the purchase of bitcoin by Tesla CEO Elon Musk (+1.31%) of Tesla (+1.31%) was delivered, and stocks related to semiconductors and payment systems surged. Payment company Square (+8.15%), PayPal (+4.72%), as well as NVIDIA (+6.24%), AMD (+4.06%), shopping company Sophie (+4.45%), mining company Allt Global (+9.23) %), Riot Blockchain (+40.25%), etc.
The domestic stock market is undergoing differentiation due to changes in individual industries, such as a plunge in Hyundai Motor Group stocks due to the news of the suspension of cooperation with Apple cars on the previous day. The market for differentiation by industry and stock is expected to continue.
Seo Sang-young, a researcher at Kiwoom Securities, said, “Today’s US stock market has also been differentiated, such as semiconductor and cryptocurrency-related companies showing strong strength due to Tesla’s purchase of bitcoin. It is expected to have an impact.”
In addition, it is advised that it is worth paying attention to the fact that the US Treasury bond rate reached a record high within a year due to expectations for additional stimulus measures and inflationary pressure. The US 10-year Treasury bond rate once exceeded 1.2% and the 30-year bond rate exceeded 2.0%. The rise in interest rates is believed to be attributable to expectations for additional stimulus measures and increased inflation pressure from rising commodity prices.
Seo Sang-young, a researcher at Kiwoom Securities, said, “Although the US Treasury bond rate has turned downward, it is favorable to the Korean stock market, which is highly dependent on exports. It will increase” he analyzed. He predicted that “considering this, the Korean stock market will change in line with foreign futures trends in the face of changes in individual companies and options expiration after the start of an uptrend.”
Meanwhile, the sell-off of pension funds, which increased the volatility of the index, is expected to continue. Since the beginning of the year, it has been selling the pension funds in the domestic stock market. The KOSPI’s accumulated net selling price for pension funds has reached 18.1 trillion won since June 2020. Net selling of the pension fund KOSPI is interpreted as the asset allocation weight adjustment. The national pension target share of domestic stocks in 2021 was 16.8%, down 0.6%p from 2020. Pension funds, a long-term investor in the stock market, need to adjust their asset allocation ratio closer to their target. In addition
Noh-gil, a researcher at NH Investment & Securities, said, “2021 is the first year of mid-term asset allocation (2021~2025) in 5 years, and the target proportion is the first year to start by deciding the target proportion in May 2020.” When considered, it is expected to drop gradually to around 15% by the end of 2025.” “As of the end of November 2020, the National Pension Service’s domestic stock portfolio was KRW 158.2 trillion, and considering the KOSPI 200 return of 12.5% in December, we believe that it will exceed the target share of domestic stocks in 2020 (17.3%).” Net selling is expected to continue in the first half.” /[email protected]
/ Kim Hye-young [email protected]
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