Ⓒ JoongAng Ilbo / JoongAng Ilbo Japanese version2022.01.26 06:57
Fear is hitting the market. Stock prices have fallen due to accelerating austerity in the United States and concerns about inflation (rising prices) due to the situation in Russia and Ukraine. The Korea Composite Stock Index (KOSPI) threatened 2700 points at one point, and KOSDAQ eventually broke 900 points and reached the “black Tuesday” again the day before. The New York index on the previous day continued to plunge, but it closed on a roller coaster with a rise.
The closing price of KOSPI on the 25th was 2720.39, down 2.56% from the previous day. It is the lowest level since 2700.93 on December 8th last year based on the closing price. The rate of decline on the 1st was also the first decline in 11 months from 2.8% on February 26, last year. The KOSPI, which fell below 2800 points for the first time in 13 months the day before, collapsed by 2750 points in one day and was temporarily pushed to 2703.99 during trading hours.
The fall on that day was led by foreign and institutional investors. Individual investors bought over 586 billion won, but they were not strong enough to absorb the selling offensive of foreign investors 462.3 billion won and institutional investors 171.5 billion won. KOSDAQ also closed at 889.44, down 2.84% from the previous day. It is the first time in 10 months since KOSDAQ fell below 900 points from 890.07 on March 10, last year.
Of the top 100 KOSPI market capitalizations, 98 fell, except for Melitz Fire, which rose 1.37% and SK Telecom, which was the same as the previous day. Among the 10th-ranked stocks by market capitalization, Samsung SDI was 5.87%, LG Chem was 4.17%, Samsung Biologics was 3.82%, and Kia was 3.16%, showing a decrease of more than 3%. Among the top 100 KOSDAQ market capitalization stocks, 84 stocks fell.
Investors are becoming more afraid of the free fall of the market. On this day, the KOSPI 200 volatility index (VIXPI), called the “fear index,” recorded 26.26, up 22.25% from the previous day. This figure, which was 17.99 three business days ago, has soared by more than 45% by this date, the highest since 26.45 on March 11, last year.
It wasn’t just the Korean stock market that was terrified. The New York Stock Market the day before had a dizzying day. The Nasdaq on the 24th plunged 4.9% at one point, and low-priced buying gathered and finally closed with a rise of 0.63%.
The reason why the global stock market has turned pale is because of concerns about the geopolitical conflict between the United States and Russia over Ukraine, as well as anxiety about austerity. At the US Federal Open Market Committee (FOMC), which will be held from 25th to 26th, there is a signal to step on the austerity accelerator, or I am nervous.
Kim Suk-hwan, a researcher at Future Asset Securities, said, “The sharp rise in the New York securities market is still alive with expectations for the FOMC (which will not accelerate the austerity rate). If it comes out additionally, it may become untouchable. ”
