2007 a year of records for markets
If this year’s domestic stock market can be summed up with the word “growth,” Daehan Fire and Marine Insurance best represents the market.According to the Korea Exchange, shares of the nonlife insurer, listed on the Kospi, grew by 955.6 percent from 1,800 won ($1.9) at the end of last year to 19,000 won as of yesterday.
Adeka Fine Chemical Korea posted the second-biggest growth on the Kospi, at 657.6 percent, followed by Samho Development at 609.2 percent, Korea Petro Industrial at 595.5 percent, DC Chemical at 430.7 percent and STX Corporation at 395.3 percent.
The dramatic growth came in a year when the Kospi index enjoyed an unprecedented rally.
After breaking the 1,500 point mark for the first time on April 9, the index kept setting records. It passed 1,600 points on May 11, 1,700 points on May 31, 1,800 points on June 18, 1,900 on July 12 and 2,000 points on July 25.
The 2,000 point mark came two years and five months after the Kospi broke 1,000.
During the year, the Kospi set record highs 51 times before reaching 2,064.85 points on Oct. 31. It closed at 1,908.62 points yesterday.
Samsung Electronics managed to keep its title as the single largest company in Korea in terms of market value with 84 trillion won of market cap as of yesterday.
But it is being chased by Posco and Hyundai Heavy Industries. Posco, the third-biggest firm last year, rose to the second spot with 50.7 trillion won.
Hyundai Heavy Industries increased its market cap to 34.2 trillion won, jumping from the 15th spot at the end of last year to the current third.
Total market capitalization at both the main exchange and the secondary Kosdaq also set a record this year. It surpassed 1 quadrillion won for the first time on July 4.
Yesterday, it was 1,056 trillion won ― 957 trillion won for the Kospi and 99 trillion won for the Kosdaq.
On the Kosdaq alone, the number of companies reached a record high, surpassing 1,000 on Oct. 1. There are currently 1,001 companies on the tech-heavy market.
NHN, the Kosdaq bellwether, more than doubled its market cap from 5.3 trillion won at the end of last year to 11.1 trillion won yesterday.
LG Telecom and Hanarotelecom kept their place at second and third on the Kosdaq, respectively, with 2.9 trillion won and 2.6 trillion won in market value.
By Moon Gwang-lip Staff Reporter [joe@joongang.co.kr]
with the Korea JoongAng Daily
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