Input 2020.12.26 07:00
The requirement for large shareholders, which the government imposes tax on gains from the transfer of shares, is finalized on the 28th. Many analysts say that this year’s plan to lower the requirement for large shareholders from 1 billion won to 300 million won per stock was eliminated and avoided the’property bomb’. However, in the downturn of the novel coronavirus (Corona 19), individual investors are expected to increase the size of their investments, so many investors are subject to the requirement of large shareholders rather than in previous years. Investors holding more than 1 billion won in one stock will have to sell their stocks on the 28th in order not to be subject to the requirement for large shareholders, so volatility is expected to increase on the 28th.
Officials in the financial investment industry predict that as the number of individual investors entering the stock market this year has increased significantly, the proportion of’big hands’ that meet the requirements of large shareholders will also increase. It is speculated that the number of individual investors with more than 1 billion won in one stock has increased because the stock price has risen a lot, with the KOSPI index looking at the 2800 line and the KOSDAQ index recording a record high in 18 years.
As the domestic stock market rose this year, the size of individual investors’ investment was also large. According to the Korea Exchange and the like, until the 24th of this year, individual investors bought a total of 63,627.7 billion won in the securities market and the KOSDAQ market. This is the largest individual net purchase ever. Last year, individual investors net sold a total of 5,493.7 billion won.
The stock that individual investors bought the most from the beginning of this year to the 24th is Samsung Electronics (005930)I bought a total of 8,961.2 billion won. Then Samsung Electronics Woo (005935)(5,7174 trillion won)·KODEX 200 Futures Inverse 2 (3,558.8 billion won)·Hyundai Motor (005380)(2,623.9 billion won)NAVER(035420)(2,195.6 billion won) in that order.
Lee Kyung-min, a researcher at Daishin Securities, said, “The possibility of withdrawing individual sales according to the requirements of the large shareholder is increasing.” Said.
Individual investors tended to net sell their stocks every December. They sell it in December and then buy it again in January. Individual investors net sold 4,823 trillion won last year, 1.579.4 trillion won in 2018 and 5,131.7 trillion won in 2017. In particular, net selling by individual investors was greater at the end of 2017 (2.5 billion → 1.5 billion won) and the end of 2019 (1.5 billion → 1 billion won) when the requirements for major shareholders subject to the transfer tax were changed. In December of this year, until the 24th, individual investors net sold 9 trading days, half of the 18 trading days, on the stock market. During this period, the net purchase amount was 3,772.8 billion won.
However, there is a prospect that the stock market may not be burdened because there is a high possibility that other individuals will receive the sale of the big hand that is outgoing. According to the Korea Financial Investment Association, investor deposits, classified as funds to be bought, amounted to 63 trillion 1946 billion won as of the 22nd.
Hwang Se-woon, a research fellow at the Capital Market Research Institute, said, “The phenomenon that individuals turn to net selling in December has been repeated, but it is highly likely that individuals will purchase net this year.” There is a low level of net selling, or even net buying is possible.”