The KOSPI index has remained stagnant for a month, but a significant number of stocks have declined, widening the gap between the index and investors' perceived returns.
On September 30, the KOSPI closed at 6,838.04, down 32.77 points (0.48%) from the previous trading day. Compared to the closing price of 6,835.80 on the first trading day of September, the index has risen only 2.24 points (0.03%) over the month.
While the index has been flat, the performance of large-cap stocks tells a different story. An analysis of 19 of the top 20 stocks by market capitalization as of September 1 revealed that only six stocks increased in value, while 13 saw declines. This means that more than two-thirds (68.4%) of large-cap stocks have fallen over the past month.
Specifically, Samsung C&T dropped 12.5%, from 390,500 won to 341,500 won. Hyundai Motor fell 11.4%, from 400,500 won to 355,000 won, and Kia decreased by 11.2%, from 131,200 won to 116,500 won. Samsung SDI also saw an 8.6% decline, dropping from 569,000 won to 520,000 won, highlighting a notable weakness in the automotive and secondary battery sectors.
In contrast, large-cap semiconductor stocks performed relatively well. Samsung Electronics rose 2.9%, from 261,000 won to 268,500 won, while SK Hynix increased by 4.9%, from 1,693,000 won to 1,776,000 won. Samsung Electro-Mechanics also saw a 5.8% increase, climbing from 1,430,000 won to 1,513,000 won. The strong performance of semiconductor stocks, which hold a significant market capitalization, suggests that their gains have not fully reflected in the KOSPI index's overall performance.
Despite the KOSPI's decline of 0.48% on this day, there were 352 stocks that rose and 513 that fell in the KOSDAQ market. Of the total 914 stocks, 56.1% experienced declines. The previous day, September 29, saw 232 stocks rise and 624 fall, with the proportion of declining stocks reaching 68.3%.
A securities industry official noted, "Recently, there has been a significant difference between the movements of the KOSPI index and the returns that individual investors perceive. It is important to observe whether the upward trend in some large-cap stocks spreads to the broader market, rather than just focusing on the index's direction."
* This article has been translated by AI.
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