Kospi fares relatively well
Affected by a worldwide economic slowdown, the Korean stock market struggled for the first half of the year.But relatively speaking, it fared well compared to other advanced markets, according to the nation’s stock market operator.
The Korea Exchange said that in a survey it conducted of 42 stock markets around the world, Korea’s benchmark Kospi ranked 11th in terms of the return rates for the first half of the year.
The Kospi shed 9.5 percent, from 1,897.13 points at the end of last year to 1,717.66 points on June 26. Still, it fell less than other major markets, including Japan’s Nikkei 225, which lost 9.7 percent, the ATX of Australia, which slid 12.9 percent, and Britain’s FTSE 100, which lost 14.5 percent.
Hong Kong’s Hang Seng lost 19.3 percent. The DAX of Germany and CAC 40 of France shed 19.9 percent and 21.2 percent, respectively.
Among the surveyed markets, only four went higher during the surveyed period.
The SASE General in Chile gained 5.2 percent, while Canada’s S&P/TSX Composite advanced 3.3 percent. The RTS of Russia and Ibovespa of Brazil rose 0.8 percent and 0.1 percent, each.
China’s SSE Composite lost 44.9 percent, the biggest fall among the surveyed markets. That was in contrast to 52.4 percent growth in the Chinese index recorded in the same period a year earlier.
Only five markets in India, Indonesia, Russia, Brazil and Canada hit record highs this year. Last year, 32 markets reached new records.
The KRX said the total market cap of the 52 members of the World Federation of Exchanges was $57.5 trillion, a 5.5 percent decrease from a year earlier.
The market cap of the Korean markets, including the Kospi and the Kosdaq, was $1,026 billion at the end of May, accounting for 1.7 percent of the total.
By Moon Gwang-lip Staff Reporter [joe@joongang.co.kr]
with the Korea JoongAng Daily
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