Massive movement of bank demand deposits
Plunge by 10 trillion won in 10 trading days
Cryptocurrency exchanges, US stocks, etc.
Significant increase in aggressive investment tendencies
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A large-scale movement of representative safe funds such as bank deposits and savings is being sensed. Following the news of the election of U.S. President Donald Trump, known as the virtual asset president, expectations for U.S. stocks and virtual currencies, including Bitcoin, are reflected.
According to Yonhap News on the 17th, the demand deposit balance of the five major banks, including KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup, as of the 14th was 587.6455 trillion won. This is a decrease of more than 1.75% compared to the 31st of last month (597,7543). Demand deposits have low interest rates but allow deposits and withdrawals freely, so they are used to measure the flow of funds in the market. The fact that it plummeted by more than 10 trillion won in just 10 business days means that depositors were actively withdrawing their money and investing it somewhere.
There has also been a movement to break away from savings and take out debt to provide emergency funds. The savings balance of the five major banks decreased by KRW 787.1 billion (2.0%) from a total of KRW 38.9176 trillion on the 31st of last month to KRW 38.1305 trillion on the 14th of this month. In addition, the balance of ‘negative bank accounts’ (credit limit loans) at the five major banks increased by KRW 752.3 billion (1.9%) from a total of KRW 38.8657 trillion to KRW 39.6179 trillion during the same period. In a situation where banks’ one-year savings interest rates are less than 3% on average, a lot of money is being poured into assets that are expected to rise in the Trump era.
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In fact, the virtual currency market is a ‘bull market’ every day. According to CoinMarketCap, a virtual asset information site, the 24-hour trading volume of Korea’s five major virtual asset exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax) was estimated at 15 trillion won as of 6 p.m. the previous day. Previously, on the 13th, Upbit, the world’s 5th largest exchange and Korea’s largest exchange, showed signs of overheating, with daily trading volume reaching 25 trillion won. The price of 1 Bitcoin is currently down slightly after breaking record highs of $93,482 on the US exchange Coinbase and 131,041,000 won on Upbit on the 13th.
Money is pouring into U.S. stocks. According to the Korea Securities Depository, the amount of U.S. stocks held by domestic investors on the 14th was estimated at $100.079 billion.
Investors’ tendencies are extremely aggressive. As of the 14th of this month, the stock that domestic investors net purchased the most in overseas stock markets was the ETF (SOXL), which tracks the U.S. semiconductor index three times more, and the net purchase amount reached $275 million.
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