KOSPI's first 2,600 surpassed ... A sharp decline

KOSPI's first 2,600 surpassed ... A sharp decline

It was a week when the KOSPI, which set off on a high note of 2,600 on the unprecedented turn of the week, was inadequate for the rest of the year.

The KOSPI rose to 2,607.10 on Friday, the first trading day of the week, according to the 3-day exchange.

3 trading days in a row was the highest ever.

On the same day, KOSDAQ continued to rise for 5 trading days, exceeding 920 in 16 years.

Both the securities market and the KOSDAQ market recorded new record highs in market capitalization, and the total market capitalization of both markets exceeded 2,000 won for the first time.

Thanks to strong global economy and abundant liquidity, foreign investors and institutional investors showed strong purchases.

On the same day, net buying by foreigners and institutions amounted to W320.4bn and W361.4bn, respectively.

However, the burden was great, and from the next day the KOSPI began to adjust immediately.

Over the past 30 days, the KOSPI has fallen more than 1% and continued to decline slightly on the 31st.

Over the two days, foreigners and institutions poured more than KRW 1 trillion into the sale of 'sediments' every day.

Investors' sentiment has deteriorated as US Treasury yields soared recently.

The surge in government bond yields could lead to a shift in funds between assets, particularly in the case of risky assets.

On the first day, the agency turned to a slight net sell-off, but on the second day, it went on sale again, selling 433 billion won worth of foreigners and ₩ 708.9 billion worth of institutional investors.

The daily drop was the highest in nearly 15 months since November 9, 2016 (45 points).

The closing price of the previous day was 2,525.39, which is close to 2,600 on the first day of this week. The closing price fell 73.35 points (2.82%) in four trading days.

KOSPI - KOSDAQ decline, KOSDAQ fell by 43.15p (1.68%) and KOSDAQ by 8.73p (0.96%) to 899.47.

The won-dollar exchange rate climbed 7.8 won to 1079.7 won.

The net selling of foreigners in the stock market during the week was 1.24 trillion won and the institutional stocks were 2.19 billion won.

Samsung Electronics sold 1.39 trillion won worth of stocks in the week that foreigners sold the most.

The agency's net selling this week was Samsung Electronics, which net sold 386 billion won.

Some analysts say the stock price will only be short-lived.

The recent fall in the won-dollar exchange rate (won depreciation) is expected to ease the burden on export companies.

The continued robustness of the global economy is also expected to increase after a short-term correction.

Kim Byung-yeon, NH Investment & Securities, said, "The index fell sharply due to the burden from rising interest rates on the market and the downward revision of Samsung Electronics' earnings estimates." However, given that the global economic upturn continues, .