중앙데일리

Cheap local stocks sell for less than a bus ticket

Oct 27,2008
Hundreds of local stocks have become extremely cheap and are now worth less than 50 cents.

According to Korea Exchange, the local bourse operator, yesterday, a total of 247 stocks - 58 on the benchmark Kospi and 189 on the junior Kosdaq - are valued at less than 500 won (35 cents), about half the cost of a bus ride.

The Kospi closed at 938.75 points Friday, a 50.52 percent drop from the end of last year, when it was worth 1,897.13 points.

The cheapest stocks on the local markets are Namhan Paper on the Kospi and DSP Ent on the Kosdaq. Namhan Paper and DSP Ent closed at 85 won and 65 won on Friday, respectively.

At the current level, both stocks can only rise or fall within 20 won a day.

The daily transaction on both markets is limited to 15 percent higher or lower from the previous day’s closing.

On the Kosdaq, nine more stocks are less than 100 won.

ST&I finished at 70 won on Friday, while Curocom closed at 75 won, Fantom Entertainment Group at 80 won, Innobitz at 80 won, Neo Solar at 85 won, Onnuri Air at 90 won and TEC at 90 won.

C&C Tech, Paxmedu and H1Bio closed all at 95 won. Starmax, GENF and Skopos D&R ended at 100 won.

Some of those cheap stocks could be expelled from the markets soon.

Under a local stock market rule, a company put under special management of the market operator is delisted if its share price stays less than 20 percent of the face value for 10 straight days, or 30 accumulative days.

Meanwhile, the most expensive stock is Lotte Confectionery which closed at 1.09 million won on the Kospi.

Samsung Electronics, the market bellwether in terms of market cap, closed at 407,500 won, the fourth most expensive per share on the Kospi.

On Kosdaq, MegaStudy (132,000 won) topped the priciest stock list, followed by NHN (114,500 won).


By Moon Gwang-lip Staff Reporter [joe@joongang.co.kr]


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