On the afternoon of the 19th, the KOSPI index was 3,039.53, down 26.48 points (0.86%) from the previous day on the electronic board of Hana Bank’s dealing room in Jung-gu, Seoul. On this day, KOSDAQ closed the market at 952.11, an increase of 2.28 points (0.24%) compared to the previous trading day. News 1
Jerome Powell, chairman of the Federal Reserve System (Fed), had no more than a day of “appropriating the market.” When the Fed did not come up with a separate security policy for the bond market, US Treasury yields soared again and the New York Stock Market crashed.
The aftermath was delivered intact to the Korean stock market. SK Bioscience, the protagonist of’Daesang (directly to the upper limit price after the initial price is determined twice the public offering price)’, which was expected to lead the index increase on the 19th, was one day instead of’Tasangsang (the maximum price for 2 consecutive trading days after the public offering was doubled). On the decline. The KOSPI also fell close to 1% as it was threatened with the 3,000 line.
KOSPI also’blue light’ on rising US Treasury yields
KOSPI closed the transaction at 3,039.53, down 26.48 points (-0.86%) from the previous trading day. This is because the interest rate on 10-year US Treasury bonds broke through 1.7%, the level before Corona 19, on the 18th (local time), and the international oil price plunged, resulting in a decline in investment sentiment. The KOSDAQ ended at 952.11, up 2.28 points (0.24%) from the previous day.
The U.S. Fed showed resoluteness the day before to maintain a easing monetary policy, but a day has not passed since the’breakdown’. Paradoxically, it seems that the Fed’s economic outlook has increased sharply and expectations for long-term inflation have increased. Powell’s refusal to comment on the stabilizing policy on US bond yields also contributed to the rise in US Treasury yields.
On this day, foreigners and institutions in the KOSPI market led a downtrend by selling stocks worth KRW 587.8 billion and KRW 1.24 trillion, respectively. Individuals bought 1.6 trillion won worth of money to defend themselves, but it wasn’t enough.
SK Bioscience’s’Dad Sangsang’ failed
SK Bioscience CEO Ahn Jae-yong beats the drum at a ceremony to commemorate SK Bioscience’s new listing on the KOSPI held at the Korea Exchange in Yeongdeungpo-gu, Seoul on the morning of the 18th. yunhap news
SK Bioscience, who was the protagonist of the KOSPI market the day before, closed the deal at 166,000 won, down 1.48% on the day. SK Bioscience, who had even surpassed the’Dad Sang’ on this day, failed to keep the 169,000 won set as’Dad Sang’ the day before.
Faster than expected, there is a reaction that the popularity of SK Bioscience has collapsed among literacy investors. SK Bioscience was so popular that it set the record for the largest IPO subscription margin record, with KRW 63,6198 billion in general public offering stock subscriptions held on the 9th and 10th of this month. There was a lot of prospect that there would be no problem with’extra-sang’ as it was traded in the over-the-counter market for 200,000 won before listing.
However, the SK Bioscience craze seems to have faded faster than expected, as investors who’prepared’ the stock price trend after listing through the IPO process of SK Biopharm or Kakao Games last year were frightened.
Kwak Joo-hyun reporter [email protected]
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