Although South Korea’s stock market enjoyed an unprecedented bull run this year, gains were limited to only a few and left more than half of stocks listed on the main Kospi end 2017 lower than the previous year, data showed.
According to the Korea Exchange (KRX) on Sunday, 406 stocks or 47.0 percent of total 864 stocks listed on Kospi bourse closed this year higher compared to last year while 454 stocks or 52.5 percent finished the year lower. Four stocks ended 2017 at the same price as the previous year. The data excluded those joined the bourse this year.
One-sided gains were more clearly seen in the secondary Kosdaq. In the tech-heavy stock market, 739 shares or 62.0 percent of total 1,192 Kosdaq-listed shares ended 2017 lower than last year. Only 37.5 percent or 447 stocks closed this year higher than a year earlier and four ended the same.
This is a stark contrast to the country’s extended stock market rally this year. The main Kospi index rose 21.8 percent on year to finish at 2,467.49 on Thursday, the last trading day of 2017. The secondary Kosdaq rose 26.4 percent to 798.42, closing the year at a 10-year high.
In the Kospi, only 22.6 percent or 195 shares recorded higher growth than the index, and a 17.7 percent or 211 Kosdaq-listed stocks gained more than the average.
By Shin Heon-cheol and Cho Jeehyun
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