According to the Korea Exchange on the 31st, the KOSPI fell 5.2% on January 25-29. As foreigners and institutions sold, the index lowered. Although the KOSPI fell sharply, there is a prospect that it will only adjust in the short term. Seok-won Choi, head of the research center of SK Securities, said, “If the rate of increase was very fast, the adjustment range may be large. It will go up,” he predicted. It is explained that the character of the adjustment that appears as the economy slows down and this adjustment are different.
Seung-min Yoo, director of investment strategy team at Samsung Securities, also assessed that the possibility of the KOSPI turning into a long-term downtrend is low. Rather, it is an analysis that after some overheating is resolved, the market will rise along with corporate performance and real indicators. Yoo said, “The recent adjustment is due to concerns about speculative overheating in the stock market such as the game stop incident.” When the overheating pattern ends, the gap between the real economy and the stock market narrows, and the uptrend will continue again.
The long-term uptrend is expected to continue. It is predicted that the economic recovery phase and rising corporate profits will take the KOSPI to the next level. Choi said, “If the economy contracts again in the second half, it can be said that the uptrend will end, but the economic recovery will continue a little further.” Center chief Choi said, “I think the 2800~3200 line is at an appropriate level for the KOSPI, but if the index falls below the 2800 line, it should be considered an excessive decline.” Seol Tae-hyun, a researcher at DB Financial Investment, said, “The earnings forecasts for most industries, excluding industrial goods, remain on the uptrend and ease the valuation burden.” .
[신유경 기자]
[ⓒ 매일경제 & mk.co.kr, 무단전재 및 재배포 금지]