More than 400 Korean firms exceed 1 trillion won in market capitalization

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More than 400 Korean firms exceed 1 trillion won in market capitalization

Figures for the Kospi, dollar-won currency and Kosdaq exchanges are shown on a digital board in the Woori Bank main branch in Jung District, central Seoul, on April 30. [YONHAP]

Figures for the Kospi, dollar-won currency and Kosdaq exchanges are shown on a digital board in the Woori Bank main branch in Jung District, central Seoul, on April 30. [YONHAP]

 
The number of Korean-listed companies whose market capitalization surpassed 1 trillion won ($680 million) exceeded 400 for the first time this year, following a dramatic recovery in the stock market, data showed Sunday.
 
The number of companies listed on the local bourse, including preferred shares, with a market capitalization of over 1 trillion won stood at 405 as of Wednesday, according to data from the Korea Exchange, Korea's main bourse operator.
 

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By market, 267 were listed on the benchmark Korea Composite Stock Price Index (Kospi), 137 were from the tech-heavy Kosdaq and one from Konex, the local exchange for small- and medium-sized enterprises and venture firms.
 
Of these, 79 firms had a market capitalization of over 10 trillion won.
 
This marks a noticeable turnaround compared to Feb. 27, just before the U.S. and Israel initiated strikes on Iran. At that time, the number of companies with over 1 trillion won in market capitalization stood at 377.
 
Korea's stock market has been on a bullish run recently on a revived AI rally ahead of the corporate earnings season.
 
After falling as low as 12 percent in a single session after the onset of the Iran war, the benchmark Kospi closed at 6,690.9 points on Wednesday, its highest level ever.

Yonhap
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