2023-11-06 08:11:00
Panoramic view of the Korea Exchange in Yeouido, Seoul. Photo = Korea Exchange
[인포스탁데일리=윤서연 기자]
■ KOSPI Index
The KOSPI index closed at 2,502.37, up 5.66%.
Last weekend, the New York stock market rose on expectations of the end of Fed interest rate hikes amid a slowdown in employment in October, and stock markets in major European countries closed mixed.
On this day, the KOSPI index started strong at 2,399.80. He hit an intraday low at 2,395.03 in the early hours of trading and then expanded his gains as time went by. In the followingnoon, he moved around the 2,460 mark and increased further, eventually closing his trading at 2,502.37, his intraday high.
The KOSPI index rose for four consecutive trading days due to simultaneous net purchases by foreigners and institutions. Thanks to the financial authorities’ ban on short selling, the KOSPI index surged by more than 5%. In addition, expectations for the end of Fed interest rate hikes amid a slowdown in employment in the U.S. in October also improved investor sentiment.
On the 5th, the Financial Services Commission and the Financial Supervisory Service held a temporary Financial Services Commission meeting and decided to completely ban short selling of all stocks in the domestic stock market from November 6 to the end of June next year. The ban on short selling, which was limited to stocks included in the KOSPI 200 and KOSDAQ 150, was expanded to all stocks on the KOSPI, KOSDAQ, and KONEX.
In this regard, the financial authorities recently explained the expansion of uncertainty in our economy due to the continued high interest rate environment, slowing global economic growth, and geopolitical risks such as the armed conflict between Israel and Hamas as the main reasons for the complete ban on short selling.
U.S. non-farm payrolls in October, announced last weekend, increased by 150,000. This is lower than the WSJ market estimate of an increase of 170,000 people, significantly lower than the previous month’s increase of 297,000 people, and lower than the average monthly employment increase of 258,000 over the previous 12 months. U.S. Treasury yields fell last weekend amid a slowdown in U.S. employment. The 2-year government bond interest rate fell 11.80bp from the previous day to 4.865%, the 10-year bond rate fell 16.50bp to 4.508%, and the 30-year bond rate fell 13.00bp to 4.695%.
LG Energy Solution (+22.76%), Samsung SDI (+11.45%), POSCO Future M (+29.93%), SK Innovation (+13.42%), POSCO Holdings (+19.18%), LG Chem (+10.62%), etc. Rechargeable battery and POSCO group stocks soared. Amid the stock market surge, securities stocks such as Kiwoom Securities (+10.02%), Mirae Asset Securities (+8.79%), and Korea Financial Group (+7.93%) also rose.
POSCO (Photo = Infostock Daily DB)
Stock markets in major Asian countries, including Japan, China, Taiwan, and Hong Kong, also rose.
By supply and demand, foreigners and institutions net bought KRW 711.4 billion and KRW 217.7 billion, respectively, and individuals net sold KRW 930.7 billion. In the futures market, foreigners net bought 7,427 contracts, and individuals and institutions net sold 5,035 contracts and 3,308 contracts, respectively.
The won-dollar exchange rate recorded 1,297.3 won, down 25.1 won from the previous trading day.
The 3-year Treasury bond interest rate fell 7.2bp from the previous day to 3.877%, and the 10-year Treasury bond interest rate fell 4.9bp from the previous day to 4.056%.
3-year government bond futures closed at 103.06, up 19 ticks from the previous day. Foreigners and banks net bought 6,632 and 3,744 contracts, respectively, and financial investors net sold 8,816 contracts. 10-year government bond futures closed at 107.58, up 38 ticks from the previous day. Foreigners net bought 1,661 contracts, and financial investment and investment trusts net sold 608 and 432 contracts, respectively.
Most KOSPI top stocks by market capitalization rose. POSCO Future M (+29.93%), LG Energy Solution (+22.76%), POSCO Holdings (+19.18%), SK Innovation (+13.42%), Samsung SDI (+11.45%), LG Chem (+10.62%), Kakao (+8.23%), KB Financial Group (+5.89%), SK Hynix (+5.72%), Celltrion (+5.34%), Hyundai Mobis (+4.59%), LG Electronics (+3.85%), Samsung BioLogics ( +3.83%) and Shinhan Financial Group (+3.44%) rose. On the other hand, Samsung Life Insurance (-1.29%) and others fell.
By industry, all industries rose. Steel/Metal (+12.63%), Chemicals (+8.16%), Electrical/Electronics (+6.56%), Manufacturing (+6.35%), Transportation Warehouse (+5.82%), Securities (+5.39%), Distribution (+ 5.37%), machinery (+5.20%), pharmaceuticals (+4.84%), finance (+4.18%), medical precision (+4.14%), transportation equipment (+3.55%), services (+3.54%), electricity and gas. (+3.38%), textiles/clothing (+3.30%), construction (+2.54%), and food & beverage (+2.41%) recorded the highest increase rates.
■ KOSDAQ Index
The KOSDAQ index closed at 839.45, up 7.34%.
On this day, the KOSDAQ index started strong at 794.49. After hitting an intraday low at 793.72 in the early minutes, the rise expanded over time. It continued to rise sharply in the followingnoon, and eventually closed trading at 839.45, the intraday high.
The KOSDAQ index rose for four consecutive trading days due to net buying by foreigners on the first day of the total ban on short selling. The top secondary battery stocks by market cap soared, leading the index to rise. The KOSDAQ index soared more than 7% that day, triggering a sidecar for the first time in regarding 3 years and 5 months. The daily increase in KOSDAQ was the highest in regarding 3 years and 8 months since March 2020 (+8.26%).
Ecopro BM (+30.00%) and Ecopro (+29.98%), ranked 1st and 2nd in market cap, soared to the upper limit, L&F (+25.30%), Nano New Materials (+13.16%), Yunseong F&C (+18.80%), and Daejoo Electronic Materials. (+16.69%) etc. also soared. POSCO DX (+27.00%) rose sharply amid the rise of POSCO Group stocks. HLB (+14.38%), Celltrion Healthcare (+5.95%), pharmaceutical/bio, Rainbow Robotics (+14.36%), SP Systems (+7.59%), robots, HPSP (+7.56%), ISC (+10.11%) ), EO Technics (+6.97%), and other semiconductor-related stocks also rose.
Photo = Ecopro
By supply and demand, foreigners net bought KRW 470.2 billion, while individuals and institutions net sold KRW 487.3 billion and KRW 6.8 billion, respectively.
Most of the top KOSDAQ market capitalization stocks rose. Ecopro BM (+30.00%), Ecopro (+29.98%), POSCO DX (+27.00%), L&F (+25.30%), HLB (+14.38%), Rainbow Robotics (+14.36%), ISC (+10.11%) ), HPSP (+7.56%), Celltrion Pharmaceutical (+7.50%), Eotechnics (+6.97%), SM (+5.96%), and Celltrion Healthcare (+5.95%) rose. On the other hand, Classys (-1.45%) and others fell.
By industry, most industries rose. Finance (+22.19%), general electrical and electronics (+21.82%), other services (+9.22%), manufacturing (+8.59%), chemicals (+6.98%), machinery/equipment (+6.59%), metal (+ 6.10%), digital content (+4.86%), pharmaceuticals (+4.82%), paper/wood (+4.80%), IT parts (+4.26%), other manufacturing (+4.03%), entertainment culture (+3.77%) ), semiconductors (+3.73%), IT H/W (+3.66%), distribution (+3.46%), and IT S/W & SVC (+3.12%) rose. On the other hand, information equipment (0.00%) showed a steady trend.
Reporter Seoyeon Yoon [email protected]
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