[SEN투자전략]Psychology on preference for risky assets in the implementation of US stimulus measures ‘Attention’ related to Coupang’s successful debut

[서울경제TV=배요한기자] Last night, the US stock market ended higher on expectations of liquidity supply following the passage of additional stimulus measures. In particular, when government bond yields stabilized, the strength of technology stocks was evident. Also, at the ECB’s monetary policy meeting, Governor Lagarde expressed concern over rising interest rates and stated that he would adjust the pace of bond purchases, which was a good news for the stock market.

On the 11th (local time), the US Dow Jones 30 industrial average index closed at 32,485.59, up 188.57 points (0.58%) from the previous trading day. The Standard & Poor’s (S&P) 500 index rose 40.53 points (1.04%) to 3,939.34, and the Nasdaq Composite Index jumped 329.84 points (2.52%) to 13,398.67, closing the market.

On this day, U.S. President Joe Biden had a positive impact on investor sentiment by early signing the $1.9 trillion in Corona 19 economic stimulus plan. The Biden government plans to start executing funds to boost the economy this weekend. ECB Governor Lagard expressed concern at the ECB monetary policy meeting held the day before, saying that the recent increase in government bond yields is putting a burden on the economic recovery. In addition, if interest rates continue to rise, risks related to financing conditions may arise, and to mitigate this, the company announced that it will speed up the purchase of bonds.

On the other hand, Coupang INC (CPNG), the parent company of Coupang, closed the transaction at $49.25, up 40.71% on the first day of listing on NASDAQ, recording a market capitalization of 84.47 billion won (95.45 trillion won).

Seo Sang-young, a researcher at Kiwoom Securities, said on the 12th, “The Korean stock market showed a strong uptrend due to the net buying of current and futures by foreigners on the expiration date of futures options. The impact was also positive.”

“In the meantime, when the ECB announced an increase in bond purchase speed, interest rates stabilized. Thanks to this, the fact that the technology stock-oriented Nasdaq surged by 4.09% in the US stock market had a positive impact on the Korean stock market. Will give.”

Researcher Seo diagnosed that the increased preference for risky assets, such as the weak dollar and rising international oil prices, is also favorable to the stock market. In particular, considering that Coupang Inc. rose 40.71% after listing in the United States, its market capitalization reached approximately $84.4 billion (96 trillion won), the analysis analyzed that related companies are expected to be strong.

However, he said, “It is a burden that inflationary pressure is spreading and that the possibility of capital flow from emerging countries to the US cannot be ruled out.” He advised that, rather than continuing to show strong strength ahead of time, the market with a wide range of changes in differentiation by industry will continue.

/Bae Yohan [email protected]

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