Despite Samsung Electronics’ rally on the nation’s main bourse, more than half of listed firms are suffering from falling share prices this year.
According to Korea Exchange, which operates the bourse in South Korea on Thursday, 1,175 listed companies, or 56.4 percent of the total, saw their share value fall from last year on the bench Korea Composite Stock Price Index. The share prices of nearly 60 percent of companies listed at the nation’s secondary stock board Kosdaq also fell, it added.
The report came as Kospi is heading to a new record high.
South Korea’s main bourse hit its highest closing since July 8, 2011 at 2,178.38 points, hoisted by gains from large-cap stocks, including Samsung Electronics.
But retail investors may have found difficulties in seeking profits since the values of half of the listed companies have fallen, despite high expectations on a Kospi rally, according to local reports.
Sungmoon Electronics saw the biggest decline in the market, as its share price dropped 74.83 percent, followed by Hanchang and Daesung Industrial, at drops of 65 percent and 50 percent, respectively.
Meanwhile, local audio maker Anam Electronics’ stock price surged 182.1 percent this year, pushed by market expectations over Samsung Electronics’ acquisition of Harman. Anam supplies its products to Harman. The share price of STX Heavy Industries also jumped 136.32 percent from last year.
On the Kosdaq, SY Panel, a local construction materials maker, suffered from its share price falling nearly 70 percent this year, while Meere Company enjoyed the largest gain at 115.46 percent. Meere is a local provider of semiconductors and display manufacturing equipment. The company is also eyeing developments of automated surgical robots, according to reports.
By Cho Chung-un (email@example.com