The KOSPI200 futures overnight average daily transaction amount, which was about 5 trillion won at the end of last year, jumped to more than 14 trillion won. This is seen as stemming from increased demand to respond to market swings amid the KOSPI surge. KOSPI200 futures overnight transactions start at 6 p.m. on weekdays.
According to the Korea Exchange (KRX) on the 10th, the KOSPI200 futures overnight average daily transaction amount came to 14.6133 trillion won through the 7th of this month. The figure, which combines both buys and sells, nearly tripled from 4.9106 trillion won in December last year.
The KOSPI200 futures overnight average daily transaction amount had already jumped to 8.035 trillion won in January this year. It increased to 11.8099 trillion won in February. It reached 13.6508 trillion won in March. It appeared to stall in April, easing to 10.8524 trillion won, but rebounded sharply this month.
Analysts say demand to preemptively respond to market volatility has piled in. KOSPI200 futures overnight transactions run for 12 hours from 6 p.m. on weekdays to 6 a.m. the next day, allowing preemptive responses to overseas markets and geopolitical issues even after the regular session ends.
The expansion trend of KOSPI200 futures overnight transactions is expected to continue for the time being. As the KOSPI surpassed the 7,000 level, the possibility of a pullback has surfaced, and geopolitical risks in the Middle East remain. Rate hikes or holds by major countries including the United States are also variables.
A person in the securities industry said, "As the KOSPI climbed steeply, surpassing the 7,000 level, more investors sought to respond to the market with overnight futures transactions," adding, "The coupling of the domestic stock market with the U.S. New York market is also translating into interest in overnight futures transactions."