KOSPI Plummets Intraday, Reaches $40,000

On September 8, the KOSPI index closed at 6,954, down 40.87 points (0.58%) from the previous day. On this day, there were 230 rising stocks, while declining stocks numbered 630. The total market capitalization recorded 5,734 trillion won.

The KOSDAQ index fell 10.31 points (1.25%), reaching 811.88 points. In the KOSDAQ market, rising stocks numbered 500, but declining stocks reached 1,129, indicating overall market weakness.

International oil prices surged, with Brent crude trading at $99.14 and WTI at $94.50, nearing $100. This is attributed to escalating geopolitical risks in the Middle East following an attack by Yemen's Houthi rebels on civilian facilities in Saudi Arabia, injuring at least 73 civilians.

This rise in interest rates is contributing to increased market anxiety.

The won-dollar exchange rate recorded 1,343 won today, indicating further strengthening of the won. Meanwhile, the Japanese yen significantly strengthened to the 153.8 yen level, showing high volatility in the overall exchange rate market.

Concurrently, they heavily concentrated their buying in KODEX Inverse and Futures Inverse 2X products, intensifying their bearish bets.

Individual investors are currently placing significant bets on a strong downside for the market. However, experts point out that betting on market direction is often inaccurate and should be avoided. They warned that expecting profits based on short-term news like war is undesirable, and the very desire to predict the market can work against investors.

This is an increase of 11 trillion won compared to the beginning of the year, with approximately 1.5 trillion won in funds flowing in this month alone. A covered call strategy involves purchasing an underlying asset and simultaneously selling call options on that asset to earn premium income.

Dividend income from covered call ETFs can resolve tax issues when investing through an ISA account. However, if using a general account, it may be subject to global financial income taxation, so attention to tax payments is required. Furthermore, large losses can occur from option sales if market volatility increases; therefore, these products are most advantageous in a sideways market, and many offer double-digit annual dividend rates.

Major semiconductor stocks, including Samsung Electronics and SK Hynix, saw declines during the day. However, expectations for semiconductor stocks are projected to remain until Anthropic's IPO, scheduled for October. With low memory inventory levels, the semiconductor industry generally remains in good health.

This surge is due to a combination of increased demand and reduced yield from the transition to HBM (High Bandwidth Memory), leading to current memory inventory levels of less than 10 days, which is very low.

This trend is particularly noticeable in the NAND sector, where Apple is foregoing setting NAND price caps and exploring cooperation with companies like Kioxia. This is interpreted as a sign that Apple's traditional strong price negotiation leverage is weakening.

Nominal Gross National Income (GNI) in the second quarter rose 26.4% year-on-year, the highest figure in 47 years since the third quarter of 1979.

The goal is to increase joint energy purchasing power, save 3-5% on purchasing costs, and expand market influence. Furthermore, plans are being explored to build relationships with China and secure capabilities to participate in the international order.

In particular, the semiconductor sector is showing an independent trend, moving separately from the overall index, which warrants attention for future market responses.