2024-02-14 08:23:00
[인포스탁데일리=박상철 기자]
■ KOSPI Index
On this day, the KOSPI index closed at 2,620.42, down 1.10%, falling for the first time in four trading days.
Amid the U.S. CPI shock, expectations of an early interest rate cut by the Fed were set to decline, putting pressure on the overall stock market. Market experts analyzed that the KOSPI index, which rose significantly due to the recent low PBR industry rally, had a large amount of profit taking.
By supply and demand, institutions net sold KRW 535.9 billion, while individuals and foreigners net bought KRW 408.1 billion and KRW 108.5 billion, respectively. In the futures market, foreigners and individuals net sold 3,035 and 492 contracts, respectively, and institutions net bought 3,450 contracts.
The US January CPI, announced last night, rose 0.3% from the previous month and 3.1% from the same month last year. This is above market expectations of a 0.2% increase from the previous month and a 2.9% increase from the same month last year. Expectations were high for the rate to enter the 2% range for the first time since March 21, but as it hit the 3% range, the market’s disappointment grew. Core CPI also rose 0.4% compared to the previous month and 3.9% compared to the same month last year, exceeding market expectations of a 0.3% increase compared to the previous month and 3.7% compared to the same month last year. While the U.S. employment indicators in January showed strong recent results, the CPI also fell less than expected, greatly weakening expectations for an early interest rate cut by the Fed.
With CPI exceeding expectations, the prevailing view was that the Fed would not be able to cut interest rates in May, let alone March. Last night, the U.S. 10-year Treasury bond interest rate surged 15.42bp from the previous trading day to 4.320%, and the 2-year Treasury bond yield surged 19.83bp to 4.666%. According to CME FedWatch last night, the Federal Funds (FF) interest rate futures market showed an 8.5% chance that the Fed would cut interest rates in March and a 33.9% chance of a rate cut in May.
Stock stock exchange share price. Photo = Pixabay
Holding companies such as CJ (-3.86%), SK Square (-3.50%), SK (-3.48%), LS (-2.80%), Hanwha (-2.65%), KB Financial Group (-3.44%), Hana Financial Group ( Themes of banking such as -3.78%) and insurance such as Samsung Life Insurance (-2.88%), Hanwha Life Insurance (-2.68%), and Samsung Fire & Marine Insurance (-7.37%) fell. Amid the surge in U.S. government bond interest rates, semiconductors such as Samsung Electronics (-1.60%) and SK Hynix (-0.87%), LG Energy Solution (-1.40%), Samsung SDI (-1.15%), SK Innovation (-0.65%), and LG Chemical Secondary batteries such as (-2.12%), Ecopromity (-4.53%), and NAVER (-1.22%) also fell.
The won/dollar exchange rate recorded 1,335.4 won, up 7.3 won from the previous trading day.
Most KOSPI top stocks by market capitalization fell. Hana Financial Group (-3.78%), KB Financial Group (-3.44%), Samsung Life Insurance (-2.88%), Samsung C&T (-2.43%), Hyundai Mobis (-2.14%), LG Chem (-2.12%), Celltrion (-1.76%), Samsung Electronics (-1.60%), Shinhan Holdings (-1.57%), Hyundai Motor Company (-1.41%), LG Energy Solution (-1.40%), NAVER (-1.22%), Samsung BioLogics (- 1.19%), Samsung SDI (-1.15%), and POSCO Holdings (-1.14%) fell. On the other hand, POSCO Future M (+3.44%), Kakao (+0.37%), and Kia (+0.34%) rose.
Most industries also fell. Insurance (-3.69%), finance (-2.20%), securities (-1.76%), distribution (-1.75%), transportation warehouse (-1.73%), pharmaceuticals (-1.29%), electricity/electronics (-1.18%) ), construction (-1.13%), electricity and gas (-1.06%), steel/metal (-1.04%), communications (-0.99%), manufacturing (-0.96%), food and beverage (-0.76%), chemicals (- 0.71%) etc. fell. On the other hand, medical precision (+0.23%), services (+0.13%), non-metallic minerals (+0.08%), and machinery (+0.02%) rose.
Stock markets in major Asian countries were closed in China and Taiwan, while those in Japan fell and Hong Kong rose.
■ KOSDAQ Index
On this day, the KOSDAQ index closed at 853.30, up 0.96%, rising for four consecutive trading days.
Amid profit-taking in stocks related to low PBR, the recent influx of buying power, mainly in growth stocks that had been relatively neglected, drove up the KOSDAQ index.
By supply and demand, individuals net bought KRW 126 billion, while foreigners and institutions net sold KRW 65.7 billion and KRW 58.4 billion, respectively.
Photo = Enchem homepage
Nchem (+2.99%) continued its record high, and entertainment stocks such as JYP Ent. (+3.49%), SM (+3.61%), and YG Entertainment (+1.65%) rose. Semiconductor/on-device AI such as HPSP (+3.88%), EO Technics (+3.23%), ISC (+2.34%), Koyoung (+4.46%), Jeju Semiconductor (+8.03%), Gaon Chips (+5.27%), etc. , Ecopro BM (+1.46%), Dongwha Enterprises (+7.53%), Soulbrain (+4.92%), Cosmo Advanced Materials (+4.65%), and Wonik P&E (+4.11%), etc., rose. On the other hand, HLB group stocks such as HLB (-5.64%), HLB Biostep (-4.44%), HLB Life Sciences (-6.21%), and HLB Pharmaceuticals (-5.27%) fell.
Most of the top KOSDAQ market capitalization stocks rose. Hugel (+5.64%), Soulbrain (+4.92%), Classys (+4.53%), HPSP (+3.88%), SM (+3.61%), JYP Ent. (+3.49%), Eotechnics (+ 3.23%), Pearl Abyss (+3.05%), Nchem (+2.99%), Eco Pro BM (+1.46%), Kakao Games (+1.22%), Dongjin Semichem (+0.75%), etc. rose, while HLB (- 5.64%), Shinsung Delta Tech (-4.07%), LS Materials (-2.85%), and Eco Pro (-2.05%) fell.
Most industries also rose. Paper/wood (+4.68%), broadcasting services (+3.51%), chemicals (+2.96%), communication broadcasting services (+2.87%), semiconductors (+2.10%), digital contents (+2.10%), computer services (+2.07%), IT H/W (+1.87%), entertainment culture (+1.74%), IT S/W & SVC (+1.52%), IT parts (+1.48%), communication services (+1.44%) ), other manufacturing (+1.42%), medical/precision equipment (+1.42%), etc. rose, while finance (-1.58%), pharmaceuticals (-1.16%), construction (-0.31%), and transportation (-0.28%) ), Internet (-0.18%), etc. fell.
Reporter Park Sang-cheol 3fe94@infostock.co.kr
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