[비즈한국] The U.S. presidential election, which drew worldwide attention, has ended with the victory of former President Donald Trump. Contrary to expectations of a "neck-and-neck" race between former President Trump and Vice President Harris, the election concluded with a landslide victory for Trump.
Moon Nam-joong, a researcher at Daishin Securities, said, "Trump's return is the result of a judgment against the Biden-Harris administration, driven by dissatisfaction with the economic situation stemming from high perceived inflation and the rise of social problems due to a surge in illegal immigrants," adding, "The perception has grown among Americans that Trump, who advocates 'America First,' is more qualified to maintain a U.S.-centered international order."
The market is already preparing for the second Trump term. The "Trump 2.0 era" is being reflected in trends such as the strength of the U.S. stock market, as well as the dollar and Bitcoin.
Kim Dae-jun, a researcher at Korea Investment & Securities, stated, "Looking at stock market performance since the 5th, the U.S. has outperformed other countries," and "Because Trump's policy stance is rooted in 'America First,' expectations have strengthened that only the U.S. will grow." In particular, the S&P 500 index has risen 3.68% since the 5th, with Trump-beneficiary sectors such as consumer discretionary (which includes Tesla), finance, and industrials leading the gains.
However, above all, the biggest beneficiary of former President Trump is considered to be "Musk." Elon Musk, CEO of Tesla, has been showing off his closeness to former President Trump by supporting him even before the election.
According to Bloomberg, after former President Trump's reelection, Tesla's stock price surged by about 30%, pushing Musk's fortune to over $300 billion. On the Bloomberg Billionaires Index, Musk has become the billionaire whose wealth has increased the most since Trump's election. Consequently, the stock market has seen a rapid move to find stocks related to Musk.
First and foremost, the "Tesla" stock price stands out. Unlike other electric vehicle-related stocks that are showing sluggish performance, Tesla's stock price has been on a continuous upward trend since the election. On the 8th, it rose to as high as $328.71 during intraday trading, surging nearly 30% over the past week.
Musk's space company, SpaceX, has also become the center of attention. As Trump mentioned SpaceX and Musk in his victory speech, expectations for benefits to SpaceX are growing. In particular, in the domestic stock market, LG Energy Solution373220 surged on the 11th as it was grouped with Musk-related stocks. Expectations of benefits rose following news that LG Energy Solution had been commissioned to develop auxiliary power batteries and power supply batteries to be used for "SpaceX." Also, news that LG Energy Solution plans to supply next-generation cylindrical batteries, the "4695 battery," to U.S. electric vehicle company Rivian served as a positive factor for the stock price.
Furthermore, "digital assets" are also expected to receive benefits. This is because former President Trump suggested deregulation of virtual assets. Not only did Bitcoin surpass $80,000, but Dogecoin, a favorite of Musk, also skyrocketed.
Hong Seong-wook, a researcher at NH Investment & Securities, said, "Trump is the first presidential candidate to put forward digital asset-friendly pledges," adding, "With Trump's election, deregulation across the industry is expected." Researcher Hong predicted, "The situation where industrial activity was stagnant due to the Biden administration's strict regulations could be reversed," and "The industry will be revitalized and suppressed investment sentiment will improve as the stance is that the U.S. will not lose its leading position in the digital asset industry." He added, "While the market may doubt Trump's willingness to implement his pledges, the digital asset industry has become a major part of Trump's support base," and "If the most important event this year was the approval of the U.S. Bitcoin spot ETF, then next year, the market will focus on the effects of Trump-led deregulation."