KOSPI Reaches All-Time High Amid Stagnant REITs Market
On the 13th, the KOSPI index soared by 2.63%, marking a new all-time high. This upward momentum was largely driven by strong buying interest in major stocks such as SK Hynix and Doosan Enerbility. In contrast, the TIGER Semiconductor TOP10 ETF saw notable selling activity, indicating some investors were opting to realize profits amid the rally. The Korean won/U.S. dollar exchange rate edged up to 1,490.6, while the KOSDAQ index closed lower, reflecting market divergence.
While the broader market rallies, sentiment in the domestic REITs sector has deteriorated significantly following JR Global REIT's corporate rehabilitation proceedings. Over the past month, all nine listed REITs ETFs in Korea posted negative returns, underscoring persistent challenges in the sector. Experts caution against viewing the current turmoil as a systemic crisis for the entire REITs market. Investors are advised to closely assess the fundamentals of the broader REITs landscape and consider the specific risks associated with individual vehicles.
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