Global oil prices on slow yet apparent recovery path
Posted : 2020-12-26 09:42
By Anna J. Park
Global oil prices have been directly hit by the COVID-19 pandemic this year, even logging a historic negative price during the market crash in April. Since the futures contracts for West Texas Intermediate (WTI) traded in minus territory for the first time in history, global oil prices have been on a slow, long-term recovery, despite fluctuations.
WTI February futures were traded at $48.20 per barrel as of 7 p.m. GMT, Christmas Eve, on the New York Mercantile Exchange (NYMEX), up 0.17 percent from the previous session.
By Anna J. Park
While the benchmark KOSPI has continued to rally this month, the total amount in loans retail investors have borrowed from securities firms to invest in the local stock market has reached an all-time high.
According to recent data from the Korea Financial Investment Association (KOFIA), loans taken out by retail investors totaled 18.85 trillion won ($17.24 billion) as of Dec.11.
Around 50.3 percent of the loans were used to buy shares listed on the KOSPI market, while 49.4 percent went to the tech-heavy KOSDAQ, and the remaining 0.03 percent to other markets such as the KONEX. Early this month, the figure exceeded the 18 trillion won mark for the first time and continued to surge.