[1124마감체크] FOMC, NAVER and Kakao Bullish Public Release Minutes By Infostock Daily

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Infostock Daily helps you prepare for tomorrow’s strategy by analyzing market conditions and closing the market in Korea and Asia every day. Here is a corner to organize your day by looking at today’s chapters, economic indicators, supply and demand points, and stock market timetables that you need to watch out for, and think of investment strategies to respond to tomorrow’s market.

■ Deadline check 24 November

The domestic stock market rose for the second day in a row, under the influence of the New York stock market, which rebounded on the release of the FOMC minutes.

The sentiment of preference for risky assets showed signs of recovery, and the KOSDAQ showed strong momentum every day.

The index closed up 0.96% at 2,441.

Foreigners and institutions showed a buying trend at the same time.

Net purchases of KRW 127 billion and KRW 66 billion, respectively, were made mainly in the electrical and electronics sector and the financial sector.

Individuals sold a net 217.5 billion won, showing a profit making move.

The paper and lumber industry rebounded on the issue of limiting disposable products, and the securities and service industries showed strength thanks to a better preference for risky assets.

The steel and metal industry and the transport and warehousing industry showed weakness, and the telecommunications industry corrected.

The index closed at 738, up 1.74%.

Foreigners and institutions also showed a buying trend in the KOSDAQ.

120.3 billion net purchases were earned and 99.7 billion earned, respectively, mainly in the IT and digital content industries.

Individuals net sales 208.4 billion won.

The entertainment and culture sectors picked up on the ‘youngest son of a conglomerate family’ issue, while the IT parts and general electrical and electronics sectors showed strength.

The Other Manufacturing sector was the only one to close less in terms of arbitrage effect.

■ Features

Growth stocks, such as platforms and games, showed strong signs of a rebound in the sentiment of risky asset selection.

In the midst of the November FOMC minutes released last night, it was confirmed that the Fed had discussed adjusting the pace of interest rate hikes.

The Fed said in the FOMC minutes that “a substantial majority of attendees believed that slowing (rate) increases would soon be appropriate.”

The New York stock market performed well ahead of the holidays, with the Nasdaq index rebounding nearly 1% on news like this.

Meanwhile, as the Bank of Korea’s Monetary Policy Committee raised the base rate by 25 basis points during the day, the win-dollar exchange rate showed a downward trend.

As a result, platform stocks like NAVER and Kakao (KS:) showed strength, and game stocks like Krafton and Neowiz also rose together.

Secondary battery stocks showed a strong influence in improving investor sentiment towards Tesla.

As Citigroup raised its investment opinion on Tesla from ‘sell’ to ‘neutral’ last night, Tesla’s stock price rose more than 7%.

Citigroup said the reward level is likely to be balanced against short-term risks following the recent correction in Tesla’s stock price.

In response to such news, Ecopro BM (KQ:), L&F, Daeju Electronic Materials, and Cheonbo showed strength.

Meanwhile, as President Yoon Seok-yeol discussed the construction of a gigafactory factory in Korea with Elon Musk Tesla (NASDAQ: ) CEO the previous day, secondary battery equipment stocks such as Mplus, Chemtros, and Apro showed strong momentum in hours early in the morning. trading session.

Stocks related to the drama ‘Youngest son of a conglomerate house’ rose after the news of a foreign OTT site.

According to OTT Rakuten Viki, an Asian American drama and film provider, the youngest son of a conglomerate family with Song Joong-ki and Lee Sung-min became first in over 50 countries, including the United States, within 5 days of launching the program. service.

Rakuten Viki currently provides services to over 190 countries worldwide, including America and Europe.

Since it has recorded highest ratings in most of the countries where it is served, it is analyzed that its popularity will increase over time.

In response to such news, Rae Mong Rain, WYSIWYG Studio, Content Tree JoongAng, and Mr. Blue showed strong performances.

OCI took off sharply on the news of the side effects, but turned to decline during the day.

After the market closed the day before, OCI announced that it had decided to establish a new corporation by spinning off its chemical division, the company’s flagship business.

As a result, existing company shareholders will receive the same distribution of shares in the newly established corporation according to the ownership ratio between OCI Holdings and OCI, the split ratio being 69% for OCI Holdings and 31% for OCI .

OCI Holdings, the surviving entity, is involved in the existing core industries of polysilicon for solar power, urban development, and energy, while the new entity, OCI, plans to focus on polysilicon for semiconductors and petrochemical material businesses. and carbon.

The division will be completed at the shareholders’ meeting at the end of March next year.

Korea Zinc was weak despite news of share swaps with LG Chem (KS:) and Hanwha.

The day before, LG Chem and Korea Zinc signed a memorandum of understanding (MOU) for comprehensive business cooperation, such as the discovery of raw materials to respond to the US Anti-Inflation Act (IRA).

Accordingly, LG Chem and Korea Zinc decided to exchange treasury shares worth KRW 256.7 billion.

In addition, Hanwha also announced that it would trade 7.3% of Hanwha’s treasury stock with 1.2% of Korea Zinc’s treasury stock to strengthen its strategic partnership.

Korea Zinc announced that this share exchange will secure investment funds to establish a strategic partnership relationship to strengthen business alliances and promote medium to long-term business plans.

In the industry, there is also thought to be a purpose to secure allies in the dispute over management rights between Korea Zinc and Youngpoong Group.

■ Checkpoint

calendar

The US stock market closed

economic indicators

Germany November IFO Business Environment Index

Industrial Enterprise Profits in October in China

■ Prospects and Points

The domestic stock market rose for two consecutive days under the influence of the New York stock market, which showed a relief rally after the FOMC minutes were released last night.

As it was confirmed that the Fed had discussed a slowdown in rate hikes at the last FOMC, some of the concerns in the market were eased.

In particular, given that the November FOMC was held before the CPI was published, the possibility of a huge move at the December FOMC is significantly reduced.

In addition, the Bank of Korea’s Monetary Policy Committee also raised just 25bp, stabilizing the recently rebounded earnings-to-dollar exchange rate.

In the end, we see this as an opportunity to justify the level of the index, which rebounded sharply after the CPI in November, and it seems that the favorable period for stock growth will continue for now.

However, as confirmed in the FOMC minutes, it is believed that concerns about the upper end of interest rates will continue in the future.

It is very likely that the Fed will implement its monetary policy flexibly depending on future inflation, employment and consumer sentiment.

As this is a factor that can cause volatility in the market in the long term, we should always keep in mind that the top end of the index will be limited.

Therefore, it is necessary to have a strategy that captures profits properly, and it seems good to maintain a relatively high proportion of the portfolio for large cap stocks.

November 24th was the closing date.

※ This program is in conjunction with ‘Infostock Mobile Newspaper’.

Reporter Park Myung-seok myungche90@hanmail.net

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