The KOSPI, which started at the 2,600 mark at the beginning of the year, rose to the 2,890 mark in July on the back of the strong semiconductor-oriented strength, but has slumped to the 2,500-point level due to the "semiconductor winter theory." Stock prices of Samsung Electronics in the market have continued to decline, plunging more than 30% from the 88,800 won recorded during the day on July 11.
The stock market's eyes are on the performance of M7 (Apple, Microsoft, Amazon, Alphabet, Meta, Tesla, and Nvidia), the seven major U.S. technology stocks. As the domestic stock market is sensitive to large technology stocks, their performance is expected to be a variable that will determine the direction of KOSPI.
Alphabet, Google's parent company, Meta, Microsoft and Facebook's parent company, and Apple and Amazon will report their earnings on the 29th (local time), and Apple and Amazon will report their earnings on the 31st. Nvidia's earnings will be released on the 14th of next month.
Tesla, which opened its M7 earnings season earlier, saw its stock price soar in the third quarter, raising investors' expectations. The company posted a "surprise performance" that exceeded market expectations in the third quarter and expressed an optimistic outlook that it will grow more than 20 percent next year.
However, the market predicts that M7 companies' operating profit will increase 18% in the third quarter compared to the same period last year. This is lower than the 36% increase in the second quarter.
Next week, when the performance announcement is followed, will be another crisis.
So far, it has fluctuated, but what is clear is that
It's true that it looks uneasy because it's at a fairly high point.
In the end, it's time to prove it with performance and look up,
I think we should pay attention to whether we will get a good performance.