Korean and US stock markets fall side by side
Betting up on KOSPI and S&P 500
[사진 출처=연합뉴스]
In the past week, when Korean and US stock markets plunged due to a heightened sense of crisis over armed conflict in the Middle East and a series of hawkish comments from members of the US Federal Reserve, ants saw this as an opportunity to buy in low prices and buy a large number of related funds appear.
According to the fund rating agency FnGuide on the 22nd, the amount established by 1,018 domestic stock funds increased by 164.2 billion won over the past week. The continuous outflow of money, with the specific amount falling by 1.3687 trillion won in the last three months and 212.7 billion won in one month, has changed 180 degrees to the inflow of money from last week.
For stock investors, the past week was a nightmare period with their assets shrinking due to various negative factors. As Iran and Israel launched joint airstrikes, concerns grew about an escalation of the war, and expectations for an interest rate cut in the second half of the year were reduced as Federal Reserve Chairman Jerome Powell made comments suggesting he might the rate cut was delayed later than market expectations.
In particular, because of TSMC’s lower forecast for the growth rate of the foundry market, major technology stocks such as NVIDIA fell by up to 10% in one day. As a result, the Standard & Poor’s (S&P) US 500 index fell by 3.05% for. per week, and the KOSPI, which was also affected by this, fell 3.35 during the same period.
In this situation, this can be interpreted as a result of the ants, who had been maintaining a general selling advantage of domestic stock funds this year, turning to buying, seeing the fall of KOSPI last week as a time to enter price low
For the same reason, capital inflows into large tech-focused US stock funds continued. According to FnGuide, North American funds, which invest mainly in the United States, saw an inflow of 24.5 billion in the last week, which was more than other regions such as Japan (9.4 billion won) and India (5.2 billion won billion).
The march of ants ‘jumping’ for funds whose prices have fallen was also evident in the exchange traded fund (ETF) market.
According to the Korea Exchange and KOSCOM, KODEX Leverage and KODEX KOSDAQ 150 Leverage took first and second place as the ETFs with the largest net purchases by individuals over the past week, respectively.
Both stocks are ETFs that earn profits only when KOSPI and KOSDAQ rise, respectively Due to the weak stock market during this period, the return on KODEX leverage was only -8.12% and no but KODEX KOSDAQ 150 leveraged -3.27%. KODEX 200, which follows the KOSPI index, also fell 3.97% in a week, but individual net purchases amounted to 47.7 billion won in a week.
Despite the weakness in US-linked stocks, ants continued to buy linked ETFs, particularly focusing on stocks that were in a downward trend.
Representative examples include TIGER US S&P 500, which is linked to the S&P 500, Dollar Futures Inverse 2X, which bets on the decline of the dollar, and ACE US 30-year Treasury Bond Active (H), which continue to show low returns due. to delay the reduction in the US base interest rate. These stocks also had a rate of return of -3 to -5% in the past week.
Among the top 1 to 10 ETFs in individual net purchases, the only ones that recorded positive returns were ‘parking types’, which have little to do with stock market fluctuations, such as active interest rate CDs and active corporate bonds .
The fate of ants who have embarked on a low price buying strategy is expected to depend on the US price index to be published on the 26th. This is because if the rise in the US Personal Consumption Expenditure Index (PCE) for March, which will be released on this day, is higher than market forecasts, there is a high possibility of rate cut expectations interest recedes again, dragging down the stock market.
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