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The KOSPI index closed higher in four days. Jerome Powell, chairman of the US Central Bank (Fed), is directly evolving over concerns about rising prices (inflation).
On the 25th, the KOSPI index soared 104.71 points (3.5%) from the previous day and closed at 3099.69. It is only 32 trading days since the 8th of last month that the KOSPI rose more than 3% during the day. The KOSPI, which soared after 4 trading days, rose to the bottom of the 3100 line.
Fed chairman Powell has evolved over inflation concerns. Powell predicted on the 24th (local time) that “the Fed will not raise interest rates until inflation exceeds 2%,” and “it could take three years or more.” “We will not raise interest rates until the Fed’s targets for employment and inflation are met,” he said.
Recently, the 10-year Treasury bond yield has been soaring. The 10-year interest rate, which soared to 1.417% during the intraday last night, ended at 1.403%, which fell partly at Powell’s remarks.
As a result, overseas stock markets also stopped falling and showed a rise. All three indexes closed higher on the New York Stock Exchange last night. On the 24th (local time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average rose 1.35% from the previous day, the Standard & Poor’s (S&P) 500 index 1.14%, and the Nasdaq index 0.99%. China’s Shanghai Composite Index is also up 0.43% from the previous day, and the Hong Kong Hang Seng Index is also up 1.46%.
Individuals sold 1,938.8 billion won, but foreigners and institutions bought 9744 billion won and 978.2 billion won, respectively. In terms of program trading, arbitrage trading was 1348 billion won and non-arbitrage trading was 332.7 billion won, showing a total purchase advantage of 4675 billion won.
SK hynix(148,500 +9.19%)Soared. SK Hynix closed the transaction at 148,500 won, up 12,500 won (9.19%) from the previous day. SK Hynix announced that it will invest 4.75 trillion won in extreme ultraviolet (EUV) scanner equipment. SK Hynix said, “To secure EUV equipment to respond to mass production of the next generation process,” he said, “We plan to acquire EUV equipment over a total of five years, and we will pay for each acquisition of individual equipment.”
Celltrion(308,000 +9.22%)Also closed to rise. Celltrion finished the transaction at 308,000 won, up 26,000 won (9.22%) from the previous day. On the 24th (local time), the European Medicines Agency (EMA) initiated a companion review (rolling review) for Celltrion’s Corona 19 antibody treatment’Rekirona’ and entered the approval process. This procedure is to speed up the evaluation of promising drugs or vaccines in public health emergencies such as the global outbreak of novel coronavirus infection (Corona 19) by the EMA’s Drug User Advisory Committee (CHMP).
The KOSDAQ index also surged. KOSDAQ closed the deal at 936.21, up 29.90 points (3.3%) from the previous day. The KOSDAQ, which was in jeopardy even at the 900 line the previous day, succeeded in rebounding that day and turned to an uptrend after six trading days.
The won-dollar exchange rate plunged (the value of the won was strong). The won-dollar exchange rate closed at 1107.8 won, down 4.4 won from the previous day.
Lee Song-ryul, reporter of Hankyung.com [email protected]
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