The domestic stock market showed an upward trend in the first half of 2024.
According to the Korea Exchange on the 30th, the KOSPI index closed at 2,399 points, down 9.6% from a year ago on the last trading day of this year.
The KOSPI index experienced an upward trend in the first half of the year due to expectations for the value-up program and inflows of foreign buying. On July 11, it even recorded a peak at 2,891 points. However, after August, concerns about economic recession, the Trump trade, and political uncertainty increased volatility, leading to a downward turn.
In comparison to major countries, the KOSPI rose 5.4% in the first half of the year, ranking 12th among 21 countries, including the G20 (Group of 20) and Taiwan. However, as the decline in the second half expanded, it fell to 20th place, down 14% as of the 27th.
By industry, the transportation equipment, financial, and telecommunications sectors showed strength due to expectations for the value-up program. In contrast, due to sluggish Chinese economic conditions and concerns about the semiconductor industry, the chemical, textile and clothing, and electrical and electronic sectors were weak.
The market capitalization of listed companies in the securities market was 1,963 trillion won at the end of this year, decreasing by 163 trillion won (7.7%) compared to the end of last year. In particular, the market capitalization of the electrical and electronic sector decreased by 22.2%, from 878 trillion won at the end of last year to 683 trillion won.
The daily average transaction value increased by 11.9% compared to last year, but the transaction volume decreased by 9.5%. While the transaction value increased due to the rise in trading volume of large-cap stocks, which have a high share of expensive stocks, the trading volume of small-cap stocks significantly decreased, resulting in an overall decline in transaction volume.
By investor type, foreigners net bought 24.1 trillion won from January to July this year. However, after reversing to net selling in August, they sold a total of 22.8 trillion won by the end of the year. Domestic institutions maintained their buying momentum centered on pension funds after the second half.
This year, 11 corporations were newly listed, an increase of one compared to last year. The public offering amount increased from 1.3 trillion won to 1.9 trillion won, a rise of 600 billion won. The three transfers included previous listings, while re-listings were excluded.