In the past week, when short selling for the KOSPI 200 and KOSDAQ 150 index stocks revived after a year and two months, there was a clear difference in stock prices by industry.
According to the Korea Exchange, from the 3rd to 7th, when short selling partially resumed, the healthcare (-0.64%) index fell the most among the 11 KOSPI 200 sector indices.
The KOSPI 200 healthcare index includes a large number of bio stocks that are said to be vulnerable to short selling due to a high valuation burden.
However, the index fell 4.87% on the 3rd, the first day of resuming short selling, but after that, major stocks such as Celltrion rebounded, making up for a significant portion of the decline.
In addition, the heavy industry (-0.49%) and information technology (-0.19%) index, which reflects a sharp decline in share price due to sluggish performance of Samsung Heavy Industries, also showed weakness.
On the other hand, the stock price has drawn upward curves, focusing on sectors that are sensitive to economy that benefit from inflation and rising interest rates.
The KOSPI 200 steel and materials index rose by 5.07% over four days, showing the largest increase.
In particular, POSCO, the leader of the index, rose 9.34% during this period.
In addition, industries such as finance (3.71%), industrial goods (3.53%), construction (3.39%), consumer economy goods (3.13%), and energy and chemicals (2.42%) also stood out.
Even within the KOSDAQ 150, there were mixed ups and downs by industry, but the index decline was more severe than the KOSPI 200 sector indexes, which were good at resuming short selling.
Similar to the KOSPI 200 industry index, the growth-oriented information technology (-2.59%) and healthcare (-1.59%) indexes fell sharply in the KOSDAQ 150.
Consumer free goods (0.71%) was the only index that rose over four trading days among the seven sector indices.
In the market environment where short selling has revitalized, there is a clear differentiation by industry and item, and in the end, there is a prospect that companies with strong expectations for performance improvement can stand out in the future.