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[Alpha Biz=(Chicago) Reporter Kim Jisun] Shares of major pharmaceutical bio companies rose more than 5 percent on the first day of the ban on "short selling." The ratio of short stock selling balances in the pharmaceutical and bio industries ranks second in the overall index after industrial goods to which secondary batteries and others belong. The investment industry predicts that the pharmaceutical bio industry will benefit from the ban on short stock selling.
According to the industry on the 7th, the Financial Services Commission held a temporary Financial Services Commission meeting on the 5th and decided to ban the public sale of the entire domestic stock market, including shares listed on the securities market, the KOSDAQ market and the KONEX market, from that day to June 30, 2024.
Short selling is a system in which people borrow stocks to sell them on the market in anticipation of a fall in stock prices and later buy them and pay them back when stock prices fall. It borrows and sells shares of a company with a share of 1,000 won, and then buys and repays them when the company's stock price falls to 900 won. You can get a profit of 100 won if the stock price falls.
This is the fourth time in the nation's stock market history that a ban on short selling has been imposed. The government banned short selling for eight months for the first time during the 2008 financial crisis. Since then, the global economy has been hit by the 2011 European financial crisis, stopping short selling for another three months. In March 2020, the third ban was imposed after a plunge in the wake of the COVID-19.
The KOSPI index rose 5.6% and the KOSDAQ index rose 7.3%. KOSPI 200 Healthcare rose 6.5% and KOSDAQ 150 Healthcare rose 6.3%.
According to the ratio of index short selling balances by the KOSPI 200 and KOSDAQ 150 industries, healthcare, which includes Pharmaceutical Bio, is ranked at the top of the list after industrial goods with secondary battery companies. It ranks second among 12 companies in the KOSPI 200 and second among seven companies in the KOSDAQ 150.
The balance of the public sale refers to the number of shares that have not been paid back yet after investors who used the public sale borrowed and sold stocks. The higher the balance, the more public sales were made.
Major pharmaceutical bio companies listed in the top 50 stocks in the short stock market are Shinpoong Pharmaceutical (019170), Celltrion (068270), Yuhan Corporation (000100), and SK Biopharm (326030) based on KOSPI.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
