Financial holding companies gain amid KOSPI plunge, Shinhan Financial Group 6.09%↑
5Major financial holding companies gained as the KOSPI fell in the morning. Shinhan Financial Group traded at 10 as of 6.09% higher at 106,100 won, while KB, Woori and Hana also advanced. The finalization of the Hong Kong ELS penalty and rotation into U.S. financial stocks were cited as the background.
5Major financial holding company stocks gained in the morning session on the Korea Composite Stock Price Index market. The KOSPI continued to trend lower during the session. Shinhan Financial Group traded at 10 as of 6.09% higher than the previous trading day at 106,100 won.
At the same time, Woori Financial Group traded at 2.96% higher at 31,400 won. Buying in financial stocks flowed in relatively strongly during the early session. Bank stocks with the largest market capitalizations rose across the board.
KB Financial traded at 3.11% higher at 169,300 won. There were differences in the extent of gains and losses among individual stocks. A concentration of trading in the financial sector was observed.
Hana Financial Group 1.49up % 122,000traded at won. Profit-taking selling also emerged in some stocks. Overall, buying strength in the financial sector was confirmed.
In U.S. stock markets, sector rotation centered on financial stocks emerged. Uncertainty related to penalty surcharges on equity-linked securities (ELS) tied to Hong Kong's H Index was resolved as the penalties were finalized. The report said this affected the improvement in investor sentiment. The figures are based on the current stock price screen (screen number 3110) as of the morning 10 figures.
Sources: 연합인포맥스
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