Individual investors have swept away entertainment stocks, whose stock prices have fallen due to lower expectations for lifting the ban, but the slump continues. However, some predict that the effect of lifting the ban from this year could be reflected in the performance, depending on the speed of consultations between working-level departments after the Korea-China summit.
According to the Korea Exchange on the 6th, JYP Entertainment’s stock price, which fell 6.19% the previous day, also fell 1.65% on the same day. Stock prices have also slipped to the threshold of 70,000 won, falling to 70,000 won during the day. SM, which returned most of its gains in the past month with a 10.12% drop the previous day, also saw its stock price fall 1.6% on the same day. Hive, a large stock with momentum to return to BTS (BTS), also fell for two consecutive trading days. YG Entertainment, which gave up the 70,000 won level that it recaptured the previous day in a day on the 5th, also failed to rebound and closed flat.
Enter stocks continued to remain sluggish despite the designation of overheated short selling stocks introduced to prevent damage to individual investors due to excessive short selling. The Korea Exchange designated SM, JYP Entertainment, and YG Entertainment as overheated short selling stocks and restricted short selling transactions for one day on the 6th. Analysts say this is the result of a sharp drop in stock prices of the three companies the previous day and a concentration of short-selling liquidation transactions aimed at a big drop.
Individual investors who bought stocks in large numbers, considering the weakness of entertainment stocks as an opportunity to buy low prices, will inevitably suffer losses.
Although the market’s investor sentiment toward entertainment stocks is cold, the stock market expects its performance to improve when China’s ban on Korea is lifted in earnest. Kim Yoo-hyuk, a researcher at IBK Investment & Securities, said, “The key is how fast the consultations that will take place after the summit will be carried out.”
[Reporter Kim Jeongseok]
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.mk.co.kr ’
