Short comment
KOSPI200 rose by 1.62% today. HangSeng rose by 0.42% today. NIKKEI225 fell by 0.92% today and S&P500 fell by 1.32% during Friday.
Market participants realized that the plunge in KOSPI200 had been severe more than appropriate level, considering eased uncertainty in cycle of semiconductor industry. Even though trade-war is making the situation hard to analyze, the fundamental uncertainty about the peak of semiconductor cycle is being eased. Two big semiconductor manufacturers, Samsung Electronics (005930.KS) and SK Hynix (000660.KS) are taking more than 25% in total market cap of KOSPI200.
In fact, we can be relieved about the proceeding bear market. S&P500 futures is going down, showing downside potential, as low as 2,600. The other indices have no choice but to follow the index. However, the relieved uncertainty in the cycle will support KOSPI200. Unless USDKRW goes beyond 1,250, the support point of the regional index is still 260. S&P500 touching 2,600 cannot change it.
KOSPI200 rose by 1.62% today. HangSeng rose by 0.42% today. NIKKEI225 fell by 0.92% today and S&P500 fell by 1.32% during Friday.
Market participants realized that the plunge in KOSPI200 had been severe more than appropriate level, considering eased uncertainty in cycle of semiconductor industry. Even though trade-war is making the situation hard to analyze, the fundamental uncertainty about the peak of semiconductor cycle is being eased. Two big semiconductor manufacturers, Samsung Electronics (005930.KS) and SK Hynix (000660.KS) are taking more than 25% in total market cap of KOSPI200.
In fact, we can be relieved about the proceeding bear market. S&P500 futures is going down, showing downside potential, as low as 2,600. The other indices have no choice but to follow the index. However, the relieved uncertainty in the cycle will support KOSPI200. Unless USDKRW goes beyond 1,250, the support point of the regional index is still 260. S&P500 touching 2,600 cannot change it.
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