The KOSPI and KOSDAQ broke new lows today (15th) as vigilantism grew ahead of the announcement of the results of the Federal Open Market Committee (FOMC) regular meeting of the US Federal Reserve (Fed).



Today, the KOSPI closed the market at 2,447.38, down 45.59 points (1.83%) from yesterday's trading day, rewriting its new low based on the closing price of the previous day (2,492.97).



It is the first time in one year and seven months since November 9, 2020 (2,447.20) that the KOSPI fell to the 2,440 range based on the closing price.



The index opened at 2,490.01, down 2.96 points (0.12%), and widened the decline, at one point falling to 2,436.04.



Foreigners sold 454.3 billion won in the stock market, leading the index down.



Individuals net bought 346 billion won and institutions net bought 73.6 billion won.



The won/dollar exchange rate rose to 1,290 won on the same day, renewing a new high, stimulating foreign selling.



In the Seoul foreign exchange market, the exchange rate of the won against the dollar ended at 1,290.5 won per dollar, up 4.1 won from the previous day's closing price.



It is the first time in 13 years since July 14, 2009 (1,293.0 won) to close the market at 1,290 won.



Seo Sang-young, a researcher at Mirae Asset Securities, said, "The increase in the domestic stock market's decline during the day is the result of a supply-demand gap.



According to the Chicago Mercantile Exchange (CME) group's FedWatch, the probability that the Fed will raise its key interest rate by 0.75 percentage points during the meeting soared to 97.3%.



Concerns about an economic downturn caused by the inversion of the long-term and short-term interest rate differentials in US Treasury bonds have also fueled investor uncertainty.



The fact that the global investment bank (IB) JP Morgan and others published a report predicting that the Bank of Korea will also make a big step (a 0.50 percentage point increase in interest rate at a time) at the Monetary Policy Committee in July, and the increased burden of counter-trading volume, also put downward pressure on the stock market. I grew up.



In counter-trading, if the value of stocks purchased by borrowing money from a brokerage company (credit transaction) falls below a certain level, or if payment cannot be made for stocks purchased through foreign transactions (receivable transactions), the securities company forcibly sells stocks to collect bonds How to do it.



A counter trade puts further downward pressure on the stock market.



Samsung Electronics, the leader in the stock market at the top of the market cap, was also threatened with '60,000 electronics' as foreign and institutional selling concentrated.



It closed at 6,700 won (-1.94%), breaking a 52-week low.



Naver (-3.36%) and Kakao (-5.09%) also hit 52-week lows again from the previous day.

Hive plunged 24.87% due to the temporary suspension of group activities by the group BTS, recording a 52-week low.



Hyundai Motor Company (1.46%) and Kia Motors (0.13%) rebounded slightly in response to the decision to withdraw from the strike by the Confederation of Trade Unions (KCTU).



By industry, all sectors declined except for food and beverages (0.79%), banking (0.42%), and insurance (0.99%).



The KOSDAQ index even gave up its support level of 800.



The index closed at 799.41, down 24.17 points (2.93%) from the previous trading day.



It is the first time in about one year and eight months since October 30, 2020 (792.65) that the price fell below the 800 line based on the closing price.



In the KOSDAQ market, foreigners net sold 146.8 billion won, while individuals and institutions net bought 88.9 billion won and 66.5 billion won, respectively.



EcoproBM (-4.42%), Kakao Games (-3.59%), HLB (-3.84%), Pearl Abyss (-4.30%), and Celltrion Pharm (-3.52%) fell by 3-4% in the top market cap. was seen.



(Photo = Yonhap News)