[DigitalToday reporter Sang-yeop Oh] Most listed South Korean companies in the domestic stock market’s "1 trillion won club" that had shrunk due to the Middle East war have returned as the KOSPI recovered the 6,000 level, data showed.
According to the Korea Exchange’s information data system on April 19, a total of 377 listed companies, including preferred shares, had a market value of at least 1 trillion won as of April 17. Of those, 253 were KOSPI-listed and 124 were on the Kosdaq. A total of 76 listed companies had a market value of at least 10 trillion won.
On March 4, early in the outbreak of the Iran war, the domestic stock market fell 12.06 percent, posting a record-level plunge on what was dubbed "Black Wednesday". The number of 1 trillion won club firms fell to 331, and the 10 trillion won club fell to 72.
After that, the number of top market-cap stocks returned to around the level seen at the end of February, just before the United States began an attack on Iran, with 377 in the 1 trillion won club and 78 in the 10 trillion won club.
With expectations of an end to the war stemming from negotiations between the two sides, the KOSPI touched 6,000 points intraday on April 14. The market also appeared to recoup the war’s impact.
Samsung Electronics is holding the top spot with about 1,263 trillion won in market value. It is followed by SK Hynix with about 804 trillion won, Hyundai Motor with about 110 trillion won, LG Energy Solution with about 98 trillion won, SK Square with about 90 trillion won, Samsung Biologics with about 74 trillion won, and Hanwha Aerospace with about 73 trillion won.
Amid expectations of gains from reconstruction during the war, Jeonjin Construction Robot entered the 1 trillion won club, while Daewoo Engineering & Construction returned to the 10 trillion won club for the first time in about 19 years since July 2007. Daewoo Engineering & Construction is up 667.37 percent so far this year.
Ji-young Han (한지영), a researcher at Kiwoom Securities, said breaking past the previous high "seems to have moved from being a question of whether to a question of time". She added that, given major stock markets have posted consecutive rebounds this month, the outlook that the war will ultimately be brought under control and end remains valid.