The domestic stock market has surged nearly 50% in about six months since the launch of the new administration, increasing the number of "large-cap stocks" with a market capitalization of more than 10 trillion won to 61.
According to the Korea Exchange (KRX) on the 16th, as of the closing price on the 14th, there were a total of 61 listed companies with a market capitalization of 10 trillion won or more. Of these, 58 are listed on the Korea Composite Stock Price Index (KOSPI), and three are listed on the KOSDAQ: Alteogen (2.96 trillion won), EcoPro BM (1.47 trillion won), and EcoPro (1.22 trillion won).
As recently as the end of May, there were only 47 corporations with a market cap of 10 trillion won or more. On the KOSDAQ, Alteogen was the only one. But in just about six months, 14 companies newly joined the "10 trillion club." During the same period, the "100 trillion club" added LG Energy Solution (108.3 trillion won), following Samsung Electronics (575.4 trillion won) and SK hynix (407.7 trillion won).
Total market capitalization on the KOSPI rose 49.2% from 2,211 trillion won at the end of May to 3,299 trillion won on the 14th of this month. However, the addition of only about a dozen members to the 10 trillion club is seen as the result of explosive gains in two large semiconductor stocks accounting for nearly half of the increase in total market cap. Of the 1,088 trillion won increase in KOSPI market cap, Samsung Electronics and SK hynix accounted for 46.1% (about 502 trillion won).
Samsung Electronics jumped 73.0% from 332.7 trillion won at the end of May to 575.4 trillion won, while SK hynix soared 173.8% from 148.9 trillion won to 407.7 trillion won over the same period.
In the second half, new stocks breaking through 10 trillion won also followed in succession. Hyosung Heavy Industries (1.98 trillion won), POSCO FUTURE M (1.86 trillion won), HD Hyundai (1.7 trillion won), Samsung Electro-Mechanics (1.59 trillion won), Doosan (1.5 trillion won), and EcoPro BM (1.47 trillion won) newly joined the 10 trillion club.
They were followed by LS ELECTRIC (1.36 trillion won), Mirae Asset Securities (1.33 trillion won), Hyundai GLOVIS (1.25 trillion won), EcoPro (1.22 trillion won), HANMI Semiconductor (1.2 trillion won), Korea Aerospace Industries (1 trillion won), SK Biopharmaceuticals (1 trillion won), and Hanwha Systems (1 trillion won). Yuhan Corporation (999.61 billion won), Samyang Foods (994.36 billion won), and S-Oil (964.83 billion won) are on the verge of entering 1 trillion won.
However, foreign selling this month has somewhat cooled the rally. The KOSPI set a record high (closing basis 4,221.87) on the 3rd, then underwent a correction for more than 10 days and closed at 4,011.57 on the 14th. Foreign investors recorded a net sell of 9.128 trillion won this month, while individuals net bought 8.5575 trillion won. Institutional investors showed a net buy of 905.2 billion won.