Around 5:10, before I talk about today's market story, I want to briefly discuss exchange rates.
The 7-year trend channel bottom was at 1410 won, and it was finally strongly broken.
With Hynix's self-share repurchase of up to 40 trillion won by November,
and Samsung Electronics' upcoming shareholder return & additional dividends, there is a possibility that it will fall even further.
Those who are long on the market may experience significant exchange losses.
Personally, I don't think it will be easy to go down to 1350 won...
If a downward trend in the exchange rate emerges, foreigners are likely to find Korean stocks attractive. This is because there is a perception that if they invest, the exchange rate will hedge them.
Of course, at some point when the downward trend stops, foreigners may sell their holdings again, but for now, seeing that the channel bottom has been broken and a downward channel is being created, it seems that the possibility of foreigners finding it attractive has increased.
