NH “KOSPI weekly forecast 2700-2820”
“Key on the 23rd with focus on Monetary Policy Meeting and Nvidia earnings”,
A dealing room billboard at the Hana Bank Headquarters in Jung-gu, Seoul on the 17th. Photo=news1, ‘Amid the conclusion of first quarter corporate earnings announcements, the KOSPI index experienced a slight decline for the week. Last week (13th-17th), the KOSPI index rebounded near its previous high amid inflation easing after being influenced by U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) results, but a lack of momentum due to recurring selling pressure led to a decrease. Market analysts anticipate that the upcoming 23rd, with key events taking place, will be a turning point for the stock market.’,
, “According to the Korea Exchange on the 19th, the KOSPI index closed at 2724.62, a 0.11% decrease from the previous trading day on the 17th. In terms of investor composition, individuals were net sellers, with a total of 453.8 billion won in selling, while institutions and foreigners bought 583.8 billion won and 288.8 billion won, respectively. Foreigners and institutions showed a ‘buying’ trend for the past four days, but turned to ‘selling’ on the 17th.”,
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, “The KOSDAQ index closed at 855.06, a 1.05% decrease from the previous week. The larger decrease in the KOSDAQ index compared to the KOSPI index was due to all group stocks closing limit-down due to late-stage HLB issues. On the 17th, news spread that the targeted anticancer drug ‘ribociclib’ faced a setback in obtaining FDA approval for liver cancer treatment. The pharmaceutical sector accounted for more than half (8.6 points) of the 15.3-point decline in the KOSDAQ index on the 17th.”,
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, ‘Kang Jin-hyuk, a researcher at Shinhan Investment Corp., noted, “Last week closed in a downturn due to individual negative developments in HLB and the digestion of selling pressure following the recent rebound.” He also pointed out that “foreign futures selling pressure was fueled by the launch of an undisclosed ballistic missile by North Korea into the East Sea just before the market close on the 17th.”‘,
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, ‘Meanwhile, on the 17th (local time), the New York Stock Exchange witnessed a historic day with the Dow Jones Index closing above 40,000 for the first time at 43.59, up 134.21 points (0.34%) from the previous trading day.’,
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, ‘The S&P 500 index closed at 5303.27, up 6.17 points (0.12%) from the previous day, while the Nasdaq index closed at 16,685.97, down 12.35 points (0.07%), showing mixed performances.’,
, ‘Market analysts anticipate that the period around the upcoming 23rd, when Nvidia earnings, Monetary Policy Committee Meeting, and release of the FOMC minutes are set to take place, will be a turning point for the stock market. The decision on China\’s Loan Prime Rate (LPR), Korea\’s exports and imports, and the U.S. Manufacturing Purchasing Managers\’ Index (PMI) are also key factors.’,
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, ‘Kim Ji-won, a researcher at KB Securities, stated, “The Fed\’s stance remains cautious but as expected, and the momentum related to the Fed\’s FOMC minutes including CPI has now stabilized.” He emphasized the need to focus on Nvidia earnings, Monetary Policy Committee Meeting, and the release of the FOMC minutes.’,
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, ‘Kim Young-hwan, a researcher at NH Investment & Securities, anticipated that the stock market this week would transition to an improvement in investment sentiment due to easing inflation concerns. The Monetary Policy Committee Meeting of the Bank of Korea held on the 23rd was especially highlighted. As there is a growing expectation of a rate cut by the Fed due to the U.S. inflation slowdown, there is a higher possibility of stability in Korea\’s interest rates and the KRW/USD exchange rate.’,
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, ‘He said, “After the Bank of Korea hinted at reconsidering a rate cut following the April Monetary Policy Committee Meeting, it is necessary to pay attention to the message that Governor Lee Ju-yeol will deliver at the 23rd Monetary Policy Committee Meeting.”‘,
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, ‘Kim further explained, “Confirming the U.S. April employment weakness and consumer price slowdown, it is a phase where investor sentiment in the stock market is improving.” He noted that “CNN Money\’s Fear and Greed Index has transitioned from a fear situation a month ago to the beginning of a greed phase currently. There is still room before reaching the extreme greed zone, indicating potential for further improvement in investor sentiment.” He then provided a KOSPI weekly forecast range of 2700-2820 points.’,
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