Is the US heatwave over as KOSPI reaches highest level in two years?

A view of Hana Bank's trading room in Jung-gu, Seoul on the afternoon of the 22nd. /yunhap news:

The KOSPI index, which rose for two consecutive days on the warm wind from the USA, fell on the 22nd. The New York stock market continued its uptrend last night and hit an all-time high, but our stock market struggled to keep up. The company appears to be holding its breath waiting for a new growth engine.

On this day, the KOSPI index closed at 2748.56 points, decreasing by 6.30 points (0.23%) compared to the previous trading day. At one point in the early part of the market, it rose to 2763.06, but soon turned bearish. In the stock market, individuals and domestic entities sold net 529.7 billion won and 162.9 billion won, respectively, adding to downward pressure. Since it had increased by 3.7% during the previous day, it is interpreted that a large number of profitable products were sold on this day.

On the other hand, foreigners alone made net purchases of 664.9 billion won. Foreigners also helped boost the index, buying 1.8782 trillion won the previous day. This is the largest amount since the 2nd of last month (1.9344 trillion KRW). In the two and a half months to date this year, foreigners have purchased a total of 13 trillion won in the stock market, which is close to 90% of last year's net purchase amount (15.123 trillion won).

Accounts for more than a quarter of the stock market's market capitalization Samsung Electronics (005930)and: SK Hynix (000660)closed lower today. SK Hynix gained 8.63% the previous day to end trading at 170,000 won. This was the biggest increase (9.73%) in about 8 months since July 27 of last year. Among the leading market capitalization stocks, the stock has risen significantly over the past two days. Samsung BioLogics (207940), Hyundai Motors (005380), Kia (000270) etc. close low.

On the other hand Celltrion (068270), POSCO Holdings (005490), Samsung SDI (006400), LG Chem (051910) NAVER (035420)A “red light” was lit. Defense industry owner Hanwha Aerospace (012450)broke the highest price in a year thanks to the purchasing power of foreigners. It is commented that the previous day's Russian airstrike had an impact on Kiyu. Hyundai Rotem (064350), Hanwha Systems (272210), LIG Nex1 (079550)closed higher as well. Cosmetics-related stocks also rose overall on expectations of an industry recovery.

Shinhan Investment & Securities researcher Lee Jae Won said. “Recently following the adoption of factors that could be positive for the stock market, such as the content of the regular meeting of the US Federal Open Market Committee (FOMC). and Micron Technology's strong performance, the KOSPI index took a breather in the absence of a new growth engine. “It's the form,” he explained.

During the FOMC meeting on March 19 and 20 (local time), the committee reaffirmed its previous stance of cutting the benchmark interest rate three times during the year.

Meanwhile, on this day, the KOSDAQ index closed at 903.98 points, decreasing by 0.31 points (0.03%) compared to the previous trading day. On this day, the KOSDAQ index started at 902.70 points, having decreased by 1.59 points (-0.18%) compared to the previous trading day, and fluctuated in a flat range. It is said to have taken a breather after rising 1.44% the previous day and retrieving the 900 mark. While foreigners and institutions net sold KRW 58.5 billion and KRW 67.7 billion, respectively, individuals net bought KRW 134.1 billion, preventing the decline from widening.

Among the leading stocks in the KOSDAQ market by market capitalization Ecopro BM (247540), Eco Pro (086520), Alteogen (196170), HPSP (403870), Enchem (348370) His back rose. Celltrion Pharmaceutical (068760), Rainbow Robotics (277810), Reno Industrial (058470), Shinsung Delta Tech (065350) etc. close low. HLB Life Science (067630)down 5.99% due to an increase in paid-in capital of 150 billion won. group owner HLB(028300)HLB Panazine also fell in price by 0.80% and 0.83%.

On this day, the won-dollar exchange rate against the US dollar (won-dollar exchange rate) in the Seoul foreign exchange market was 1,338.4 won, an increase of 16.0 won compared to the previous trading day.

(tagsTo Translate) KOSPI

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