Once the 2100 line collapsed … The longest winter of the market

The KOSPI closed at 2,106.10, down 2.57% from the day before the 23rd, due to prolonged negative externalities such as the trade war between the United States and China. KOSPI
In a year and a half, seven months after the sale of the "twins" of foreigners and institutions, 2,100 ships were destroyed. This afternoon,
The share price and the exchange rate are posted on the KEB Hana Bank trading room billboard. Park Young-Dae reporter [email protected]

As the United States and China struggle for hegemony continue, the Korean stock market has collapsed several times. The KOSPI is again panicked after the collapse of 2,100 ships considered a psychological demarcation line in a year and a half.

Analysts feared that "there is no reason to expect a rebound in the domestic stock market or external conditions." Some of them are pessimistic about extending the "winter" Korean stock market, stating: "It does not make sense to wait for the bottom of the stock market" .

○ A year and a half after 2700 collapses in seven months

KOSPI closed at 2,106.10, down 2.57% from the previous day. This is the lowest level in a year and seven months since March 10 of last year (2,097.35). At one point, it fell to 2,094.69, giving 2,100 in one year and seven months. The KOSDAQ index further fell to 3.38%, closing at 719.00. The Australian dollar exchange rate closed at KRW 1,137.6 (KRW depreciation of KRW 9.2) due to the sharp decline in the market.

The sale of investors and foreign institutions has been the reason for the market's collapse. Foreigners and institutions sold respectively 423.9 billion won and 242.2 billion won on the securities market. In particular, foreign investors who left the Korean stock market this month exceeded 3.5 trillion won.

Concerns that the US-China conflict may intensify have further heightened sentiment of investment. On the 22nd, it was badyzed that the American warship had pbaded the Taiwan Strait in three months and that it was a "demonstration of military force" aimed at China. US Treasury Secretary Stephen Moussaint said yesterday: "It is possible to lower the selection criteria of the exchange rate manipulation bureau."

Seo Sang-young, a researcher at Kiwoom Securities, said: "It was also tedious to interpret the tax cuts announced by US President Donald Trump in preparation for protracted trade disputes . " Other Asian markets, including Japan (-2.67%) and Hong Kong (-2.95%), fell sharply, including the Shanghai Composite Index, down 2.26%.

The collapse of pharmaceuticals and biotechnology has led the Kospi down. The day before, the Singaporean sovereign wealth fund, Temasek, had rejected 3.9 million shares of Celltrion as part of a block deal. Celltrion (-8.19%) and Samsung Bio Logics (-6.60%) fell by more than 6%.

○ "The bottom of the stock market can be deeper"

The problem is that the stock market does not deserve to bounce back. Park Ki-hyun, director of the Center for Insecure Securities Research in Korea, said: "Foreign investors are increasing their holdings by selling emerging market equities such as Korea as their preference for secure badets grows. " He keeps on. "

Experts predict that unrest will continue until the end of next month, when the United States and China must hold a summit. "The bottom of the Korean stock market could become deeper if the two countries continue their fight at the top," Yang said.