Traditional industries make strides in market cap rank in conservative Korean market

Kang Min-woo and Jenny Lee 입력 2022. 5. 17. 14:15
글자크기 설정 파란원을 좌우로 움직이시면 글자크기가 변경 됩니다.

이 글자크기로 변경됩니다.

(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.

The $10 billion market-cap club in South Korea has been realigned amid ebb of loose-liquidity environment, with traditional categories of steel, shipbuilding, and finance replacing the growth stocks of batteries, bio, internet, and games.

According to the Korea Exchange, 39 stocks had a market cap of over 10 trillion won ($7.8 billion) as of last Friday, missing two from the beginning of the year. Their market cap averaged at 33.19 trillion won, down 5.4 percent from early this year.

The composition has been shifted.

Growth stocks, including battery, bio, internet, and game names, dropped out of the rank.

SK bioscience lost half of its value from 17.56 trillion won to 9.40 trillion won during the period. Celltrion Healthcare, distributor of biosimilars, saw its value shrink from 12.43 trillion won to 8.65 trillion won. It yielded No. 1 rank on the Kosdaq to EcoPro BM.

NC Soft and Netmarble were missing from the rank, while Krafton remained the sole game stock, although its market cap thinned from 22.52 trillion won to 12.43 trillion won.

Battery firms also shriveled, with SK ie technology and POSCO Chemical dropping out of the threshold.

Hybe, representing the entertainment sector, also slipped out with its market cap sinking from 14.49 trillion won to 8.89 trillion won.

Internet firms, who had been disappointing with first-quarter earnings, backtracked.

Naver’s market cap decreased from 61.68 trillion won to 45.59 trillion won, while Kakao reporting decline in sales for the first time in five years shrank from 51.42 trillion won to 36.59 trillion won.

Traditional heavy industries returned in full force.

Korea Zinc and Hyundai Heavy Industries returned to the 10-trillion won club. Woori Financial Group and S-Oil also joined the club with their market cap climbing over the threshold.

“Growth stocks, which benefited in the low-rate environment, will suffer for the time being, while shipbuilders will go strong on shipping boom. Financial stocks would benefit from rising interest rates,” said Jeong Yong-taek, an economist at IBK Securities.

[ⓒ Maeil Business Newspaper &, All rights reserved]

Copyright© 매일경제 & 무단 전재, 재배포 및 AI학습 이용 금지

이 기사에 대해 어떻게 생각하시나요?