“I only have no stock”… Individual 4.4兆 storm purchase
Exceeded 3200 during the KOSPI intraday
Visitors are waiting at Mirae Asset Daewoo’s Seongdong WM branch on the 11th, when the KOSPI index exceeded 3200 during the week, for new account opening and asset allocation consultation. / Han Economic Daily Reporter
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Individuals recorded net purchases of over 4.4 trillion won in the securities market per day. It is the largest ever. Institutions and foreigners recorded record net sales, but the index ended at the bottom line as individuals received this quantity.
The KOSPI index closed at 3148.45, down 0.12% on the 11th. At the beginning of the market, individuals bought more than 1 trillion won, raising the index to 3266.23. It also hit an all-time high on an intraday basis. At one time, Samsung Electronics surged 9% and Hyundai Motors 17% due to individual intensive buying. As the index soared, institutions and foreigners began to realize profits. Institutions recorded a net sale of over 3.7 trillion won and foreigners over 700 billion won. The stock price once fell below 3100 due to the foreclosure bomb, but ended the transaction as it climbed to the top line thanks to individual purchases. On this day, 166 stocks rose in the stock market, but 712 stocks fell. Nevertheless, the reason the stock price ended in a flat was because the buying trend was concentrated on large stocks. LG Chem, Samsung SDI, Kakao, and other high-ranking stocks have renewed their reported prices one after another.
Despite overheating warnings, individuals continue to move funds to the stock market. The investor’s deposit amounted to 67,5474 billion won on the 8th. The opening of new accounts at securities companies is also increasing rapidly. Some people are starting to invest in stocks by subtracting deposits and savings as well as jeon tax.
South Korea in stock
Take out the deposit and go to the stock account… Stock companies are crowded with late investors
On the morning of the 11th, I visited the Jamsil WM branch in Seoul, Samsung Securities. I was curious about the atmosphere of the branch office in the stock craze. It was crowded as expected. I asked Mr. A in his 70’s who is sitting about the atmosphere these days. He said, “It seems like the atmosphere is similar to when I hit the rage about joining the fund 10 years ago.” Mr. A, who has been trading directly at a brokerage branch for decades, recalled a’fund frenzy’ on the market these days.
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The stock craze is spreading regardless of region and age. On the day when ants swept over 4 trillion won worth of stocks a day, securities company branches in Seoul, Busan, Daegu and Gwangju, as well as in Samcheok, Gangwon, and Yeosu, Jeollanam-do, were crowded with customers who visited to open an account. Those trying to get on the stock market poured not only retirement funds, but also jeon tax, deposits and savings, into stocks. The same goes for the 2030s, which mainly use the mobile trading system (MTS). The topic of the conversation was’stock’. On this day, Korea University’s bulletin board’Gopas’ was ranked first in stocks and second in Samjeon (Samsung Electronics).
○ Go to a brokerage company with a friend
At 9:10 am on that day, the individual net purchase amount was 1 trillion won. It exceeded 1 trillion won in the shortest time ever. Over the weekend, new ants were buying stocks by storm. Some are orders from brokerage branches. Mr. B, a woman he met at Samsung Securities’ Jamsil branch, said he came out to save his account after 20 years. He said, “Twenty years ago, I was throwing a lot of money from stocks and putting money in the bank only, and I started to wander when I saw Samsung Electronics rise.” I took my deposit and bought Samsung Electronics stock.
On this day, men in their 60s opened a new stock account at the Yeosu WM branch of Mirae Asset Daewoo. At a friend’s recommendation,’If you don’t stock up, you’ll be a fool’, and you subtracted the retirement funds from the bank and bought large stocks such as Samsung Electronics and Hyundai Motors. There were more than 30 visitors to the Yeosu branch in the morning. “I heard that there were no employees who ate properly at all branches across the country,” said Kim Su-wan, senior manager of Mirae Asset Daewoo Yeosu WM. “I don’t know how the day has passed.” The Mirae Asset Daewoo Investment Center in Seomyeon, Busan, was suddenly crowded with visitors, reaching 20 people on standby. The situation in Gangwon-do was similar. Nam Hye-rim, Yuanta Securities’ Samcheok Branch PB (Private Banker) said, “Inquiries regarding the purchase of Samsung Electronics are continuing throughout the day.
○“Can Jurin enter Hyundai Motor Company?”
The stock craze can be hinted at last year’s statistics. According to the money circulation statistics released by the Bank of Korea on the 7th, money spent on securities investment in the third quarter of last year totaled 40 trillion won, more than five times higher than in 2019. 2.25 trillion won in stocks and funds, 9.7 trillion won in bonds, and 8.2 trillion won in overseas stocks. On the other hand, money in bank deposits and savings (financial company deposits) decreased by 10.3% to 24.500 trillion won. This led to an investor deposit amounting to KRW 70 trillion.
They are using existing financial funds, such as stock price-linked securities (ELS), deposits and savings, to cheonsei funds, for stock investment. An office worker, Mr. Kim, 28, moved from a half-tax officetel with a deposit of 50 million won to a monthly set with a deposit of 10 million won for stock investment. In April of last year, the savings amount, which had included 20 million won, was canceled and put into stocks, but the investment was felt to be insufficient. He said, “I was thinking about getting a loan from a bank and moving to a larger private house, but I decided it would be better to make money by investing the deposit in stocks.” I plan to pay the increased monthly rent through stocks.
Those who considered stocks like’gambling’ are also jumping into stock investment. Jung Mo, 54, a middle school teacher recently started investing in stocks for the first time in his life. I thought that stocks were a gamble with a high possibility of losing the principal, but in the wake of the stock craze, I bought some premium stocks such as Samsung Electronics in search of 100 million won in deposit and savings. He said, “I wonder why I didn’t know about stock investment so far,” he said. “I am worried about when the stock market rises so sharply and when it will fall.”
Stocks have emerged as the hottest topic even among college students. On this day, in the Korea University community’Gopas’,’stock’ and’Samjeon’ ranked first and second in search terms side by side. The bulletin board of’SNU Life’, a community of Seoul National University, overflowed with stock-related articles such as “Samsung Electronics went into 93,000 won, but suddenly it turned out to be 91,000 won”, and “Can Jurin enter Hyundai Motor Company now?”
Jaewon Park/Yerin Choi/Reporter Hankyung [email protected]
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