The KOSPI broke through 8,000 this year and surged, but across all listed issues, more hit 52-week lows than set 52-week highs. With wide swings continuing, one out of every five listed issues experienced both a year-to-date high and low.
According to the Korea Exchange (KRX) on the 14th, based on closing prices through the 12th, 1,508 out of 2,875 listed issues set new 52-week highs this year. Of these, 545 were KOSPI issues and the rest were KOSDAQ and KONEX issues.
Among top market-cap names, most of the top 10, including Samsung Electronics, SK hynix, SK Square, Samsung Electronics preferred, Hyundai Motor, Samsung Electro-Mechanics, Samsung Life Insurance, Samsung C&T, and HD Hyundai Heavy Industries, broke their all-time highs between late last month and early this month. Among the top 10 by market cap, LG Energy Solution was about the only one that did not set a new high.
By contrast, 1,763 issues hit 52-week lows, outnumbering those that set highs. On the KOSPI, 530 issues and on the KOSDAQ, 1,172 issues touched new lows.
This year, 587 issues (20.4%) among listed names experienced both a high and a low. With 192 on the KOSPI, 383 on the KOSDAQ, and 12 on KONEX, volatility stood out more on the KOSDAQ side.
Among large caps, swings in Samsung Biologics (No. 12 by market cap) stood out. On Jan. 15, boosted by expectations for a presentation at the JP Morgan Healthcare Conference, it set a new high and at one point climbed to No. 4 by market cap, but it has trended downward since and fell to a 52-week low on the 8th.
SJ Group, which had been grouped as a theme stock tied to the June 3 local elections for Seoul mayor, also showed big volatility, plunging to a low after hitting a high in February once the election ended. There were names that moved the other way. Seoul Semiconductor hit a 52-week low in January, then returned to a high by mid-last month, four months later, as investor sentiment toward the semiconductor sector revived.
Experts say this volatility will be hard to resolve in the short term. That is because the Middle East situation and inflation trends remain variables that could influence U.S. rate policy. Lee Jae-won, a researcher at Yuanta Securities Korea, said, "The current volatility has not been fully resolved. Next week's major currency policy meetings, including the U.S. Federal Reserve (Fed) and the Bank of Japan (BOJ), could contribute to volatility."
However, "Unless the AI-driven (rising) trend is broken, a concentrated approach centered on earnings plays will likely continue," the researcher said, adding, "If major Central Bank officials do not suddenly take a forceful hawkish turn, market focus appears set to shift smoothly to strong second-quarter results, with exports and price gains now being confirmed."