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| 최수연 네이버 대표. (사진=연합뉴스) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Naver, Korea's leading growth stock, rose more than 3% on the relief that the Bank of Korea's interest rate freeze has virtually ended the interest rate hike cycle.
According to the Korea Exchange on the 11th, Naver closed at 199,600 won, up 6,600 won (3.42%) from the previous day.
Foreigners bought KRW 20.6 billion and institutions bought KRW 34.4 billion, leading the rise. Individuals focused on profit-taking by selling 53.7 billion won. In fact, Naver ended its rise at the threshold of 200,000 won due to an increase in individual sales, making it realize the "200,000 won resistance line."
Naver's rise on the day seems to be due to expectations that the "interest rate hike cycle will end."
On this day, the Monetary Policy Board of the Bank of Korea (MOK) maintained its benchmark interest rate at the current 3.50% per annum at a meeting on monetary policy direction. It is the second consecutive freeze since February.
However, as the interest rate freeze eased the burden on the increase, it was analyzed that it positively affected Naver's stock price.
Stock markets have a positive outlook that Naver will be able to rebound from the second quarter.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
