[THE INVESTOR] One out of every 10 companies traded on the main bourse KOSPI hit a new high, data showed Aug. 8.
According to the data by the Korea Exchange, 89 stocks, or 10 percent of the 889 firms listed on KOSPI, renewed their all-time highs between Jan. 3 and Aug. 3.
During the cited period, the benchmark index climbed 3.96 percent from a year earlier.
The number, however, marks a 47.6 percent drop from the same period a year earlier, when 170 stocks reached new highs, bolstered by the KOSPI’s 4.26 percent surge.
A total of 18 chemical stocks renewed their all-time highs during the eight-month period, followed by pharmaceuticals with 12 and service companies with 10.
A slew of large caps hit new highs. Preferred shares of Samsung Electronics touched a new high of 1,285,000 won (US$1,155) on Aug. 1, raising the value of the world’s top smartphone maker to 19 percent of the main bourse’s total market capitalization.
The state-run Korea Electric Power Corp. also hit a fresh all-time high of 63,000 won on May 30. KEPCO had the No. 2 market cap as of Aug. 10.
