After the Korea Exchange announced that it would develop and release the'KRX BBIG K-New Deal Index', the index fell by about 10%.
This is due to the recent coordination of major growth stocks that led the domestic stock market rebound this year.
According to the Korea Exchange, the BBIG New Deal Index dropped 10.22% from 3,133.10 on the 4th of last month to 2,812.98 on the 29th of last month, just after the exchange announced plans to launch the BBIG New Deal.
It fell after peaking with the announcement.
During this period, the total market capitalization of the 12 stocks that make up this index decreased by about 33 trillion won from 333 trillion won to 300 trillion won.
The decline in the BBIG New Deal, above all, appears to have been due to an adjustment in the global stock market centered on US technology stocks while related stocks have risen so much.
Mirae Asset Asset Management's'TIGER KRX BBIG K New Deal Listed Index Fund', the first product based on the index, is set to launch on the 7th.
Mirae Asset Management provided the initial development idea of the index to the exchange and secured a 3-month exclusive license.