[뉴스케이프 김태동 기자] The domestic stock market is expected to try to rebound this week amid negative news such as the US Federal Reserve’s (Fed) tightening notice.
According to the Korea Exchange on the 2nd, the KOSPI closed at 2695.05 on April 29, up 1.03% from the previous trading day (2667.49). Foreigners and institutions net bought KRW 14.3 billion and KRW 493 billion, respectively, and individuals net sold KRW 493.3 billion.
Kim Seok-hwan, a researcher at Mirae Asset Securities, said, “The KOSPI rose sharply as the US stock market rose sharply on strong corporate earnings, solid consumer spending, and strong employment.”
The securities industry suggested the 2630-2750 range as the KOSPI band this week. The positive earnings outlook and valuation merits of domestic companies were cited as factors for the rise in the index, while the US Federal Reserve’s tightening outlook and uncertainty surrounding the spread of COVID-19 in China and lockdown measures were cited as factors for the decline.
Kim Young-hwan, a researcher at NH Investment & Securities, said, “The Fed’s tightening outlook already reflects the possibility of three to five 50bp hikes within this year.” “The lockdown in China due to the spread of COVID-19 is an unpredictable variable, but it is estimated that the Chinese government’s control is working to some extent,” he said.
Shin Seung-jin, a researcher at Samsung Securities, said, “Investors’ eyes will be focused on the US Open Market Preparation Committee (FOMC) scheduled for May this week. It seems that the color of the market will be decided,” he said.
The sound earnings outlook of domestic companies is also noteworthy. Researcher Kim said, “The KOSPI’s annual operating profit forecast for this year has been slightly raised by 0.1% from 249.8 trillion won to 250 trillion won, and good results are expected. and the KOSPI P/E is lower than the long-term average.”
Securities industry experts recommend paying attention to quality growth stocks with little room for damage to corporate fundamentals due to rising funding rates. As industries of interest, the Internet, rechargeable batteries, pharmaceutical/bio, energy, non-ferrous metals, and distribution clothing were presented.
