It was a year when I would not want this to happen again nationally.
In the stock market, large-cap stocks such as Samsung Bio Logics and Doosan Bobcat were listed
Indeed, large-cap stocks were better than small- and mid-cap stocks for a long time.
Let's look back on the KOSPI.
1. Change
The KOSPI started at the 1961 point and closed at the 2026 point.
About 3.3%.
it's a really rise a little. Maybe they are representing the economic situation of our country well.
The market cap increased 62 trillion to 1304 trillion from 1242 trillion at the end of last year.
However, the number of newly listed stocks increased to 17 trillion won, and the increase in market capitalization of existing stocks was only about 44 trillion won.
2. Contribution by category
It is meaningful to look back on what kinds of events contributed to each event.
We can prepare well for next year by looking at what kinds of stocks led the market this year and what kinds of stocks that brought down the market.
| 행 레이블 | Symbol | 합계 : 상승률 | 합계 : 기여도 | 합계 : 시총증가(백만) |
| 삼성전자 | A005930 | 34% | 163% | 72,391,472 |
| SK하이닉스 | A000660 | 45% | 23% | 10,155,633 |
| POSCO | A005490 | 55% | 18% | 7,934,002 |
| KB금융 | A105560 | 40% | 11% | 5,087,615 |
| 현대중공업 | A009540 | 66% | 10% | 4,385,200 |
| 롯데케미칼 | A011170 | 52% | 10% | 4,301,565 |
| NAVER | A035420 | 18% | 9% | 3,856,633 |
| 신한지주 | A055550 | 14% | 6% | 2,702,937 |
| 우리은행 | A000030 | 45% | 6% | 2,656,680 |
| LG디스플레이 | A034220 | 28% | 6% | 2,468,929 |
| 하나금융지주 | A086790 | 32% | 5% | 2,264,424 |
| 현대모비스 | A012330 | 7% | 4% | 1,703,518 |
| 현대건설 | A000720 | 50% | 4% | 1,587,458 |
| SK이노베이션 | A096770 | 13% | 3% | 1,546,905 |
| 한국타이어 | A161390 | 23% | 3% | 1,356,432 |
| 포스코대우 | A047050 | 65% | 3% | 1,212,783 |
| 영진약품 | A003520 | 314% | 3% | 1,188,277 |
| 삼성중공업 | A010140 | 44% | 2% | 1,102,135 |
| 한국가스공사 | A036460 | 31% | 2% | 1,070,831 |
| 삼성카드 | A029780 | 29% | 2% | 1,025,351 |
| 효성 | A004800 | 24% | 2% | 983,289 |
| 현대제철 | A004020 | 14% | 2% | 940,793 |
| 금호석유 | A011780 | 53% | 2% | 895,866 |
| 두산인프라코어 | A042670 | 88% | 2% | 855,753 |
| 엔씨소프트 | A036570 | 16% | 2% | 756,551 |
| 대림산업 | A000210 | 30% | 2% | 719,560 |
| 두산중공업 | A034020 | 32% | 2% | 700,645 |
| SK텔레콤 | A017670 | 4% | 2% | 686,338 |
| 대한유화 | A006650 | 60% | 2% | 672,750 |
| 만도 | A204320 | 42% | 1% | 648,008 |
| S-Oil | A010950 | 7% | 1% | 635,097 |
| 제일약품 | A002620 | 110% | 1% | 627,412 |
| LS | A006260 | 47% | 1% | 610,190 |
| SK가스 | A018670 | 79% | 1% | 512,931 |
| 동국제강 | A001230 | 92% | 1% | 505,852 |
| 삼성생명 | A032830 | 2% | 1% | 500,000 |
| GS건설 | A006360 | 34% | 1% | 479,250 |
| 현대산업 | A012630 | 16% | 1% | 463,613 |
| LG유플러스 | A032640 | 10% | 1% | 458,442 |
| 삼양사 | A145990 | 71% | 1% | 456,068 |
| 한화테크윈 | A012450 | 22% | 1% | 419,727 |
| 두산 | A000150 | 18% | 1% | 398,076 |
| 풍산 | A103140 | 47% | 1% | 362,914 |
| SK네트웍스 | A001740 | 26% | 1% | 354,716 |
| 동원산업 | A006040 | 37% | 1% | 332,957 |
| JW중외제약 | A001060 | 47% | 1% | 322,987 |
| GS | A078930 | 7% | 1% | 317,340 |
| 한국타이어월드와이드 | A000240 | 19% | 1% | 302,316 |
| 현대미포조선 | A010620 | 29% | 1% | 302,000 |
| KT | A030200 | 4% | 1% | 300,278 |
| 현대로템 | A064350 | 24% | 1% | 297,500 |
| 코오롱인더 | A120110 | 18% | 1% | 295,342 |
| 현대시멘트 | A006390 | 172% | 1% | 292,690 |
| 제이준 | A025620 | 575% | 1% | 289,026 |
| 현대상선 | A011200 | 30% | 1% | 279,809 |
| 금호타이어 | A073240 | 26% | 1% | 276,488 |
| 휴켐스 | A069260 | 42% | 1% | 261,623 |
| 동부제철 | A016380 | 235% | 1% | 258,660 |
| 코웨이 | A021240 | 4% | 1% | 258,204 |
| 대우조선해양 | A042660 | 26% | 1% | 254,550 |
| 기업은행 | A024110 | 3% | 1% | 240,167 |
| 한솔케미칼 | A014680 | 34% | 1% | 239,458 |
| 세아제강 | A003030 | 72% | 1% | 233,400 |
| 애경유화 | A161000 | 131% | 1% | 228,766 |
| 부광약품 | A003000 | 24% | 1% | 225,982 |
The stocks contributed more than 1% to the Kospi rise.
Samsung Electronics contributed overwhelmingly.
If Samsung Electronics were not contained , the KOSPI fell out.
In large measure, the industries that led the market this year
Semiconductor industry represented by Samsung Electronics and SK Hynix
Industries materials represented by POSCO, Lotte Chemical, Hyundai Steel, Hyosung
Banking industry represented by KB Financial Group, Shinhan Financial Group, and Woori Bank
Shipbuilding represented by Hyundai Heavy Industries and Samsung Heavy Industries
It was the Internet industry represented by NAVER.
There are many factors in the rise of SEC,
First strong shareholder return.
Treasury stock and cash dividends were very much.
In particular, treasury stocks have made tremendous strides in raising share prices in the face of reduced volume.
The second is the anticipation of equity spin-off during the transition to holding company.
If we divide the company into holding company and operating company, treasury shares will be resurrected, which should boost BPS by about 13%.
The third is expectations for the semiconductor industry next year.
DRAM prices have risen, NAND fronts industries continue to grow, and expectation for the semiconductor industry is very high next year.
I do not expect much from home appliances and smartphone business next year, but it was getting better in the semiconductor business.
But if you think about it, now I have a personal idea that the expectations are all reflected.
Is it possible that the share price will be maintained if the holding company is converted, the semiconductor market is good, and the shareholder return policy continues? If only one of them is out of order, would not stock prices fall? I have the idea.
Anyway, with this expectation, Hynix started to give strength from 2H.
The good banking business is due to expectations for a US interest rate hike.
Fed raised the interest rate in December, and expect to raise it 2-3 times next year.
However, expectations are reflected in the same way, and the feeling of uncertainty is less reflected.
The steel industry has risen thanks to China's steel industry restructuring.
Steel prices in the region have risen due to stronger coal demand in China and strong Chinese government restructuring efforts.
Hyundai Steel, which has a high portion of Hyundai Motor, failed to raise its prices more than expected, and its growth rate was less than POSCO.
Chemical companies such as Lotte Chemical and Hyosung also showed good results this year after last year.
Oil prices remained low this year, and NCC margins were solid.
Hyundai Heavy Industries and Samsung Heavy Industries rose during the restructuring, and fundamentals were not good.
NAVER has grown on the line-listing and ad market position.
So what are the stocks that contributed negatively to the KOSPI this year?
| 행 레이블 | Symbol | 합계 : 상승률 | 합계 : 기여도 | 합계 : 시총증가(백만) |
| 삼성에스디에스 | A018260 | -45% | -20% | -8,859,758 |
| 아모레퍼시픽 | A090430 | -21% | -13% | -5,695,306 |
| 기아차 | A000270 | -25% | -12% | -5,411,601 |
| LG화학 | A051910 | -21% | -11% | -4,988,251 |
| 한미약품 | A128940 | -58% | -10% | -4,408,835 |
| 한미사이언스 | A008930 | -53% | -9% | -3,957,912 |
| 한국전력 | A015760 | -12% | -9% | -3,819,686 |
| 오리온 | A001800 | -44% | -7% | -3,032,597 |
| LG생활건강 | A051900 | -17% | -7% | -2,976,518 |
| 삼성물산 | A028260 | -10% | -6% | -2,779,963 |
| CJ | A001040 | -26% | -4% | -1,983,948 |
| 오뚜기 | A007310 | -46% | -4% | -1,936,720 |
| LG | A003550 | -15% | -4% | -1,889,803 |
| 삼성화재 | A000810 | -12% | -4% | -1,869,962 |
| 한전KPS | A051600 | -39% | -4% | -1,566,000 |
| 현대글로비스 | A086280 | -20% | -3% | -1,443,750 |
| CJ CGV | A079160 | -44% | -3% | -1,176,569 |
| 호텔신라 | A008770 | -38% | -3% | -1,158,030 |
| 한세실업 | A105630 | -52% | -2% | -1,094,000 |
| 한국항공우주 | A047810 | -14% | -2% | -1,081,974 |
| 현대차 | A005380 | -3% | -2% | -1,077,322 |
| 현대위아 | A011210 | -35% | -2% | -1,060,608 |
| 아모레G | A002790 | -8% | -2% | -1,040,595 |
| 쿠쿠전자 | A192400 | -44% | -2% | -985,238 |
| 롯데칠성 | A005300 | -34% | -2% | -964,837 |
| 삼성전기 | A009150 | -19% | -2% | -924,869 |
| SPC삼립 | A005610 | -39% | -2% | -923,304 |
| 현대그린푸드 | A005440 | -38% | -2% | -918,422 |
| 녹십자홀딩스 | A005250 | -42% | -2% | -860,382 |
| 삼성엔지니어링 | A028050 | -29% | -2% | -833,000 |
| 한진해운 | A117930 | -90% | -2% | -801,542 |
| SK | A034730 | -5% | -2% | -782,172 |
| 삼성증권 | A016360 | -24% | -2% | -768,173 |
| 한샘 | A009240 | -14% | -2% | -764,852 |
| 동원F&B | A049770 | -50% | -2% | -752,529 |
| 한화생명 | A088350 | -12% | -2% | -746,936 |
| 미래에셋대우 | A006800 | -23% | -2% | -740,226 |
| 유한양행 | A000100 | -23% | -2% | -718,266 |
| 롯데제과 | A004990 | -22% | -2% | -702,172 |
| 동원시스템즈 | A014820 | -32% | -2% | -689,161 |
| 농심 | A004370 | -24% | -1% | -650,843 |
| 한국콜마 | A161890 | -31% | -1% | -614,014 |
| KCC | A002380 | -14% | -1% | -612,278 |
| 한세예스24홀딩스 | A016450 | -59% | -1% | -588,000 |
| 잇츠스킨 | A226320 | -44% | -1% | -585,288 |
| 제일기획 | A030000 | -24% | -1% | -569,454 |
| 하나투어 | A039130 | -43% | -1% | -568,031 |
| 강원랜드 | A035250 | -7% | -1% | -566,942 |
| 동부화재 | A005830 | -11% | -1% | -552,240 |
| 아이마켓코리아 | A122900 | -59% | -1% | -535,556 |
| 신세계 | A004170 | -23% | -1% | -531,640 |
| S&T모티브 | A064960 | -42% | -1% | -521,471 |
| 영원무역 | A111770 | -27% | -1% | -507,367 |
| LIG넥스원 | A079550 | -22% | -1% | -506,000 |
| 한국콜마홀딩스 | A024720 | -47% | -1% | -501,036 |
| LG하우시스 | A108670 | -35% | -1% | -486,735 |
| KT&G | A033780 | -3% | -1% | -480,524 |
| GS리테일 | A007070 | -12% | -1% | -477,400 |
| 한국금융지주 | A071050 | -16% | -1% | -477,271 |
| 에스원 | A012750 | -12% | -1% | -455,990 |
| 코스맥스 | A192820 | -27% | -1% | -454,994 |
| 일동홀딩스 | A000230 | -71% | -1% | -445,366 |
| 무학 | A033920 | -40% | -1% | -437,475 |
| 한전기술 | A052690 | -32% | -1% | -418,509 |
| LG전자 | A066570 | -4% | -1% | -412,442 |
| 롯데푸드 | A002270 | -32% | -1% | -410,831 |
| 현대백화점 | A069960 | -14% | -1% | -409,543 |
| 현대해상 | A001450 | -13% | -1% | -406,770 |
| 롯데하이마트 | A071840 | -28% | -1% | -396,610 |
| 크라운제과 | A005740 | -48% | -1% | -388,959 |
| 한화갤러리아타임월드 | A027390 | -66% | -1% | -388,807 |
| 제주항공 | A089590 | -36% | -1% | -378,875 |
| 삼성SDI | A006400 | -5% | -1% | -374,724 |
| 동서 | A026960 | -12% | -1% | -358,920 |
| 롯데쇼핑 | A023530 | -5% | -1% | -346,399 |
| 삼양홀딩스 | A000070 | -25% | -1% | -339,718 |
| 한화케미칼 | A009830 | -8% | -1% | -338,066 |
| 대한전선 | A001440 | -17% | -1% | -332,757 |
| 코리안리 | A003690 | -19% | -1% | -331,015 |
| 대상홀딩스 | A084690 | -46% | -1% | -323,094 |
| CJ제일제당 | A097950 | -6% | -1% | -322,239 |
| 녹십자 | A006280 | -14% | -1% | -303,850 |
| 코스맥스비티아이 | A044820 | -46% | -1% | -300,602 |
| 한솔테크닉스 | A004710 | -46% | -1% | -291,850 |
| 동아에스티 | A170900 | -25% | -1% | -290,435 |
| CJ대한통운 | A000120 | -6% | -1% | -273,748 |
| 메리츠금융지주 | A138040 | -15% | -1% | -271,483 |
| 일진홀딩스 | A015860 | -46% | -1% | -270,917 |
| 메리츠종금증권 | A008560 | -13% | -1% | -265,702 |
| 벽산 | A007210 | -45% | -1% | -263,270 |
| 휠라코리아 | A081660 | -25% | -1% | -262,740 |
| 엔케이 | A085310 | -65% | -1% | -261,816 |
| 신세계인터내셔날 | A031430 | -35% | -1% | -259,182 |
| 이노션 | A214320 | -18% | -1% | -258,000 |
| CJ헬로비전 | A037560 | -26% | -1% | -254,026 |
| LG이노텍 | A011070 | -10% | -1% | -239,038 |
| GKL | A114090 | -15% | -1% | -231,959 |
| SK디앤디 | A210980 | -32% | -1% | -224,554 |
| 코오롱 | A002020 | -23% | -1% | -224,456 |
these stocks are 1% or more contributed negatively.
There are a lot of things that went up last year.
pharmaceutical / bio industry represented by Hanmi Pharm and Hanmi Science
Cosmetics industry represented by AMOREPACIFIC and LG H &
Samsung Group's governance-related stocks represented by Samsung C & T and Samsung SDS
Automobile industry represented by Hyundai Motor, Kia Motors, Hyundai Glovis, and Hyundai Wia
China-related stocks like LG Chem, CJ, Orion, CGV, Hotel Silla,
Pharmaceutical biotech had reflected too much anticipation last year, and the share price was also very big.
A few cancellations in the meantime had sentiment down and there were multiple derating of pharmaceutical biologists.
Cosmetics stocks such as Amorepacific and LG H & H reflected the overestimation of expectations and the derating of Chinese stocks related to the THAAD placement issue.
Samsung C & T and Samsung SDS were subject to adjustments due to lack of expectations in the Samsung governance process
The automobile industry showed sluggish support this year.
Now that we have finished the year, we should prepare for next year.
How will it change next year?
Some market predictions and market response are required to do well to win the market.
I should keep my eye on the market situation and keep pace with the market once I make the wrong decision.
What lessons can you see from this year?
Well, look at pharmaceutical / bio, cosmetics, and China related stocks.
It reflected all the good points of last year, and it was strongly adjusted after some bad news this year.
Analysts in Hanmi Pharm did not reflect that all licensed-out projects would be successful, but in reality, a few failed to get the stock price adjusted.
Cosmetics stocks have fallen due to the political events of the Sad Batch, even though their performance has not been bad this year.
Therefore, here is where we should look now.
Excessive expectations.
The most conviction among the stocks that have risen sharply this year is that semiconductors are reflecting expectations.
Indeed, without anticipating any bad news, the stock price can be solid as expected, and even small adjustments can be made to bad news.
Humans always repeat mistakes. This year, I can see that I'm being hit again next year.
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