"It was total mental breakdown" 2030s who experienced '70,000 won electronics' sigh

Samsung Electronics Targeted by Short Selling as '70,000 Jeonja'
Closing Price Hits 70,000 Won Range for the First Time Since December 30 Last Year
Recovers to '80,000 Jeonja' in One Day... Nearly 2% Increase

A foreign exchange dealer looking at a computer screen in the dealing room of the Hana Bank headquarters in Euljiro, Jung-gu, Seoul.
[Photo by Yonhap News]

[Asia Economy Reporter Han Seung-gon] "I just went into a mental breakdown right away." "Ah, this is what stocks are like," "It was actually a good experience."

For stock beginners who invested in Samsung Electronics this year, last week was truly a time when their hearts burned black with anxiety. The expectation of a "100,000-won stock" solidified into an "80,000-won stock," and on Wednesday the 12th, it closed at 80,000 won, down 1.48% (1,200 won). During the day, it even dropped to 79,800 won. This was the first time in over four months since December 30 last year that Samsung Electronics fell below 80,000 won during trading hours.

The happiness of stock beginners in their 20s and 30s lasted until January this year. Samsung Electronics rose to 96,800 won on January 11. At that time, the securities industry had rosy forecasts that Samsung Electronics' stock price would soon surpass 100,000 won. However, from February onward, it was trapped in the 80,000-won range and eventually fell to the 70,000-won range. The psychological resistance level of 80,000 won was broken, making the "70,000-won stock" a reality.

This downward trend is analyzed to be due to foreign selling pressure. According to the Korea Exchange information data system, foreigners net sold 788.8 billion won on the 11th, 1.1379 trillion won on the 12th, and 768.1 billion won on the 13th. The short selling amounts were 84 billion won on the 11th, 92.4 billion won on the 12th, and 29 billion won on the 13th. The short selling ratio among the total sales over the three days was 7.3%.

Among young people, sighs and lamentations continued. Some even suggested viewing this situation as a way to practice "mental management in a bear market."

Kim, a late 20s office worker, said, "I didn't buy a lot of stocks, but since buying Samsung Electronics stock, I have been keeping up with stock-related news." He added, "Yesterday, when the downtrend continued and it briefly entered the 70,000-won range, I sighed."

Another stock beginner, Lim, a 30s office worker, said, "Many friends around me bought a lot of stocks, and overnight in the group chat, we exchanged words of comfort, asking 'What is really going to happen to us?'" He emphasized, "This is really what stocks are like. For now, it seems the only way is to wait."

Meanwhile, there is also the view that this opportunity should be used for "mental management." Choi, a 30s office worker, said, "When I listen to my colleagues and seniors, they often advise not to worry too much about stock price declines," adding, "Just maintaining daily life seems to be good for mental management."

Meanwhile, the KOSPI, which showed the "70,000-won stock," rebounded by over 1% on the 14th after four days. The KOSPI closed at 3,153.32, up 31.21 points (1.00%) from the previous trading day, recovering the 3,150 level.

Individuals and institutions net bought 352.614 billion won and 103.011 billion won, respectively. Foreigners net sold 453.526 billion won. Stock prices of 504 companies rose, 343 companies fell, and 60 companies remained unchanged.

Among the top market capitalization stocks, Samsung Electronics rose 2.04%, regaining the "80,000-won stock" level. Among 20s and 30s retail investors, a sigh of relief followed.

Choi, a 30s office worker, said, "How the market closes on Friday affects the weekend mood," adding, "I am looking forward to how it will start on Monday." However, he added, "Experts' analyses suggest that the economy is difficult and there are many adverse conditions. It seems a gloomy situation will continue, but enduring is the right answer."