The domestic stock market, which had risen without hesitation, recently slowed, and today (24th) the KOSPI fell below the 3,000 line. Private investors still bought stocks, but stock prices fell sharply due to bad news.
Reporter Kim Jung-woo covered the reason.
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As the sales volume of foreigners and institutions poured out, the KOSPI plunged around 2% and gave out the 3,000 line.
It is the second collapse of the 3,000 line after breaking the first 3,000 on the 7th of last month.
Even though individuals collected more than KRW 550 billion worth of money, they were unable to bear the selling tax of foreigners and institutions.
Amid the bull market that has continued since the end of last year, the stock price burden has increased, and bad news from China has affected.
The Shanghai Composite Index fell 2% amid fears that the Chinese government will tighten up and recover money released to the market, and the Hang Seng Index plunged nearly 3% on the news of the Hong Kong government’s announcement of an increase in the stock exchange tax.
[이경민/대신증권 투자전략팀장 : 중국 증시 상승을 이끌었던 종목, 산업이 급락했고. 중국 시장이 급락을 하다 보니, 국내 주식도 외국인 순매도 그로 인한 낙폭 확대 흐름이 이어졌다고 생각합니다.]
There is still anxiety over rising US Treasury yields.
Since the spread of the Corona 19 vaccine has raised expectations for an economic recovery, inflation and bond interest rates not only in the US but also in other countries are rising.
It is an analysis that reflects the concern that if the domestic interest rate also rises, the money released to the market may be recovered and adversely affect the stock price.
US Fed Chairman Powell said at a Senate hearing that it would maintain its current zero interest rate and easing monetary policy, the US stocks have stabilized somewhat, but Asian stocks have been stunted by the emerging bad news from China.
Experts predicted that the domestic stock market, which rose steeply, could enter a temporary correction for the time being.
(Video coverage: Yoohyuk Yoo, video editing: Jeong Seonghun)