More than half of listed firms in South Korea saw their share prices drop in 2017 from the end of last year despite the recent surge of the benchmark index and top-cap Samsung Electronics Co., data showed Thursday.
As of Thursday, 56.4 percent of the 2,084 companies traded on the country's main and secondary stock markets, or 1,175 issues, closed lower compared with the end of 2016, according to the data by the Korea Exchange.
On the main bourse, 52.3 percent of the 886 listed firms suffered setbacks in their share prices, while 59.4 percent of the
1,198 companies traded on the tech-laden KOSDAQ market finished weaker.
The preferred stock of metalized film maker Sungmoon Electronics Co. suffered the biggest decline of 74.8 percent on the main stock market over the cited period, with Anam Electronics Co., a maker of audiovisual products and medical electronics, gaining the largest amount of 182.1 percent.
Anam, which supplies audio products to Harman International Industries Inc., had been on a roll since March 11, when Samsung Electronics announced it had completed the acquisition of the US
automotive electronics firm.
On the secondary bourse, sandwich panel manufacturer SY Panel Co. was the worst performer with a 69.9 percent price tumble, while hi-tech equipment maker Meerecompany Inc. posted the biggest gain of 115.5 percent.
The data come amid growing expectations that the benchmark Korea Composite Stock Price Index is on track to renew its all-time high soon, bolstered by brisk foreign buying stemming from improving corporate earnings.
Samsung Electronics has also been rising sharply on hopes for increased earnings down the road, with its closing share price reaching a new high Tuesday. (Yonhap)