[아이뉴스24 한수연 기자] As it is known that the financial authorities will partially allow short selling, the volatility of short selling related stocks has already increased. Experts agree that they expect volatility to increase and that short selling risks should be considered.
According to the Korea Exchange on the 5th, Celltrion, a representative short selling stock, fell 1.73% on the next day when news of the financial authorities allowed short selling, and Doosan Infracore fell 0.89%. HLB fell 2.94% in one day.
All of them are items that domestic individual investors recently pointed out as the targets of the’anti-short selling movement’ because their usual short selling balances competed for first or second place in the securities market and the KOSDAQ market. However, on the second day after the news of permitting short selling, these stocks are fluctuating and fluctuating.
Celltrion’s short selling balance was KRW 1.6 trillion as of the 2nd, the largest in both the KOSPI and KOSDAQ markets. The proportion of the short selling balance was 3.53%, which has recently dropped to the 3% level, but it is still high. Doosan Infracore’s short selling balance and proportion of the balance are also the highest, with KRW 95 billion and 4.98%, respectively.
In the case of HLB, the short selling balance reached 250.5 billion won, ranking first among KOSDAQ stocks. The proportion of the short selling balance is also 4.99%, approaching 5%. Likewise, there is a precedent for a decline in the past whenever short selling became the’hot potato’ in the market.
The recent increase in volatility in these representative short-selling stocks is because they are included in the targets of short-selling, which will resume first in May. The financial authorities will resume short selling for the KOSPI 200 and KOSDAQ 150 stock index constituents starting from May 3rd.
The financial authorities explained that the market cap of these stocks is large and liquidity is abundant.
Earlier on the 3rd, Eun Seong-soo, chairman of the Financial Services Commission, emphasized in a briefing that “they are familiar with domestic and foreign investors, and have high utilization, such as linkage transactions between the derivatives market and the stock market.”
Celltrion and Doosan Infracore belong to the KOSPI 200, and HLB belongs to the KOSDAQ 150. This is the background for which a blow is expected after short selling is allowed in May.
Accordingly, the Korea Equity Investors Association, which has 32,000 individual investors, has announced its intention to carry out the so-called’Selt Stop’ movement in solidarity with Celltrion and HLB shareholders’ association. Doosan Infracore’s shareholders are engaged in a so-called’Doo Ins Top’ campaign to buy stocks in units of 9, 99, and 999 shares against short selling, centered on online bulletin boards. However, the dramatic rise is far off.
Market concerns are growing. This is from the analysis that stock price volatility may increase further when the short selling forces and collective actions of individual investors meet.
Seo Sang-young, a researcher at Kiwoom Securities’ investment strategy and market conditions, said, “If investors sell out after raising the stock price due to the campaign against short selling, it is important to be careful as the loss of individuals who entered late may increase.” “We can expand the desire for profit-making by supply and demand entities.”
Ahn So-eun, a researcher at IBK Investment & Securities, said, “As the real short selling resumption approaches in May, related uncertainties will emerge again.” “Eventually, individual investors’ judgment on whether the stock market is overheated will determine the direction of the stock market.”
SK Securities researcher Lee Jae-yoon advised, “Among the stocks allowed for short selling, those whose operating profit estimates have been significantly lowered in the past month need to be careful about the risk of short selling.”
Reporter Han Soo-yeon [email protected]