Korean listed firms lose $441 bn market cap in Jan-Sept on stock market crashes

[Photo by Yonhap]

South Korean listed companies have lost a combined 633 trillion won ($441.2 billion) in their market value up to September this year on stock market crashes amid faster U.S. tightening and growing concerns about the global economy.

According to local market researcher Korea CXO Institute on Tuesday, the total market cap of Korean stock bourses shrank to 1,942 trillion won as of the end of the third quarter, losing 633 trillion won from the beginning of the year.

A total of 2,033 stocks, or 83.5 percent of the total, reported a fall in their market value, while just 375 stocks added value. The number of stocks with a market cap above 1 trillion won also declined to 213 from 288.

Among big losers, Samsung Electronics Co. lost 152 trillion won to 316 trillion won in market cap.

Others were SK hynix (34 trillion won), Naver (30 trillion won), Kakao (26 trillion won), Kakao Bank (19 trillion won), Kakao Pay (16 trillion won), and Krafton (13 trillion won).

Hanwha Solutions made a rare winner, seeing 2 trillion won increase in its market cap to 9 trillion won. Korea Zinc also saw a rise of 2 trillion won, Hyundai Heavy Industries 1 trillion won, KT 1 trillion won, and Korea Aerospace Industries 2 trillion won.

Nine companies newly put their names on the top 100 large-cap stocks list. LG Energy Solution ranked second, Hyundai Mipo Dockyard 72nd, Hyundai Rotem 98th, Hanwha Aerospace 88th, and KAI 60th.

[¨Ï Maeil Business Newspaper & mk.co.kr, All rights reserved]