More than 8 out of 10 Korean stocks have retreated in the Korean markets performing one of the worst in the first half among global exchanges commonly battered by supply bottleneck, runaway inflation and fast monetary tightening.

As of Friday, as many as 2,169 out of 2,583 stocks trading on the Kospi, Kosdaq and Konex fell this year, while gainers stopped at 352.

Among a month-long global rout from U.S. rate tightening tantrums, Kosdaq was the worst performer among 43 global stock exchanges by losing 14.15 percent over the last month and Kospi fourth biggest loser with 10.3 percent. From the beginning of the year, Kospi lost 21 percent and Kosdaq 28 percent. Kospi on Monday recovered 2 percent and Kosdaq 3 percent.

Of losers, the value of 165 stocks has been more than halved.

Suspended Kosdaq member H&T for one plunged as much as 99 percent with its stock shriveled to 18 won from 1,920 won ($1.49). TIs stock nosedived a weeklong after its stock trade was resumed for liquidation.

Joongang DNM stock plummeted 85 percent and Com2uS Holdings 79 percent.

BK Tops was the worst performer on the Kospi, losing 75.50 percent so far this year. The firm has been on the downhill due to mounting operating losses and capital crunches since 2015, and its stock trading was suspended on May 16 after the refusal of an audit opinion last year.

Large-cap Kospi stocks – Samsung Electronics, SK hynix, Naver, Kakao, Kakao Bank, and LG Household & Health Care – retreated 30 percent.

Hyundai Feed shares on the other hand have skyrocketed 11 times or 993.36 percent since the beginning of this year amid grain shortage.

Other stocks related to grains, nuclear plants, and robots, such as Hanil Feed and Hurim Robot rode above the bear wave.

The outlook for the second half is equally grim, with brokerage houses sharply downgrading the target range for the country’s main Kospi index to the 2,100 range versus 2,988.77 on the first trading day of this year.

“The Korean markets could sink sharply if U.S. inflation continues to fly,,” said Cho Bang-hyeon, a senior researcher at Daol Investment & Securities. Daol revised down the Kospi’s bottom for this year to the mid-2,200 level from the previous 2,550-2,600 range. KB Securities also downgraded the Kospi’s top end to 2,750 from 3,000 and the bottom to the 2,100-2,300 range.

By Kim Geum-yi and Jenny Lee

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]