Kospi 7,475plunges... this week’s CPI and Bank of Korea rate decision are the key variables
The Kospi fell by 7.57% last week and closed at 7,475.94. Foreign investors net sold 43,409billion won, while retail investors and institutions net bought 32,691billion won and 8,325billion won, respectively. This week, the U.S. 6consumer price index release, the Bank of Korea Monetary Policy Board meeting, and the start of global corporate earnings for the 2quarter are the main variables.4.
The Kospi fell by 7.57% last week and finished trading at 7,475.94. This trend is expected to be affected by this week’s major indicators and policy schedule.
Foreign investors net sold 43,409billion won in the Kospi market. Selling pressure led last week’s decline.
Individual investors net bought 32,691billion won, and institutions net bought 8,325billion won. Buying by individuals and institutions partly offset foreign selling.
The items cited as key variables in the market this week are three in number. The U.S. 6consumer price index (CPI) announcement, the Bank of Korea's Monetary Policy Board meeting, and 2·4the start of earnings season for major global companies in the quarter.
It was said that volatility is likely to continue, centered on the semiconductor sector. The trend in which semiconductors influence KOSPI swings was maintained.
Lee Kyung-min, a researcher at Daishin Securities, said, "The KOSPI, which hit its all-time high of 9,385.59p, fell at one point last week to the 7,200range." The same researcher described the current index as a 'historically undervalued phase'.
Sources: 파이낸셜뉴스 증권
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