South Korean stocks have repeatedly set record highs, pushing total market capitalization above 6,000 trillion won and lifting the number of listed companies worth at least 1 trillion won past 400.
According to the Korea Exchange on Saturday, total market capitalization across the KOSPI, KOSDAQ and KONEX stood at 6,167 trillion won as of April 29. The number of listed firms with market caps of 1 trillion won or more, including preferred shares, totaled 405: 267 on the KOSPI, 137 on the KOSDAQ and one on KONEX. As of the same date, 79 companies were valued at 10 trillion won or more.
The combined market value of listed companies in South Korea’s 10 largest business groups accounted for more than half of the total. As of April 30, their combined market cap was 3,832.6471 trillion won, up 1,517.4573 trillion won from the end of last year, when it stood at 2,315.1898 trillion won. The gains came as the market rally continued, including the KOSPI’s first intraday move above 6,700, the report said.
SK Group posted the biggest increase. As of April 30, the combined market cap of its listed companies was 1,139.7587 trillion won, up 89.6% from 601.0122 trillion won at the end of last year.
Samsung Group’s combined market cap rose 68%, to 1,684.1052 trillion won in April from 1,002.4979 trillion won at the end of last year. Hanwha Group’s total climbed about 50% to 173.7212 trillion won from 115.6744 trillion won, ranking third by growth rate.
Other increases were reported for POSCO Group (46.5%), Hyundai Motor Group (46.0%), HD Hyundai Group (44.6%), Shinsegae Group (42.9%), Lotte Group (42.3%), GS Group (39.3%) and LG Group (26.9%).
Kim Jong-min, an analyst at Samsung Securities, said strong earnings led by U.S. big tech and South Korean semiconductor companies have offset macroeconomic headwinds. He added that signs of improving global liquidity and a Korea-specific “money move” have helped support the market’s downside.
Lee Kyung-min, an analyst at Daishin Securities, said the KOSPI’s uptrend is “entirely based on earnings,” and he expects the rise to continue until forward earnings per share begin to turn down.
Still, Lee said that as first-quarter earnings season highlights gaps between expectations and results, the market is likely to see a short-term cooling period and profit-taking. He said that even if the broader uptrend remains intact, investors should be prepared for near-term swings as sentiment retreats.
* This article has been translated by AI.
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