Bull Run Doubles 132 Firms’ Stock Value
By Park Hyong-ki
Staff Reporter
With Seoul stocks on a bullish run, a total of 132 listed firms on the main bourse and tech-heavy Kosdaq, or 8.2 percent of the total, saw the value of their stocks double over the last five months.
According to the Korea Exchange (KRX), 416 stocks recorded more than a 50 percent increase in value.
On the main bourse, Myung Sung, a manufacturer of lighters and automotive parts, marked the highest gain. It edged up 3,350 won, or 14.92 percent to 25,800 won last Friday. The stock overall has grown by 617 percent.
Daiyang Stainless Steel, Fine Chemical, Korea Technology Industry and Sungwon Corp. marked the next biggest gainers on the main bourse.
Actipass, a wireless communication company, has been a winning stock on the Kosdaq, though it slightly dropped 0.34 percent to 28,800 won, Friday. However, its stock value has jumped over 600 percent in the last five months. It started trading at 3,580 won.
KDC, SCHEM and UC Icols were among the Kosdaq-listed firms that recorded high record gains on the market, following Actipass.
On Friday, Seoul stocks extended their relentless gains with the benchmark KOSPI hitting a new record high of 1,716.24 points, up 0.9 percent or 15.33, off a daily high of 1,745.39, on takeover speculations and rosy economic outlook.
Kosdaq, meanwhile, fell 0.7 percent, or 5.26 points, to 742.61.
The benchmark index climbed 19.64 percent from January to May, while the junior stock rose 22.51 percent.
Analysts attribute the growth largely to individual and foreign investors' increase in investment of domestic equities.
Despite the bull run, a total of 382 listed firms fell in value.
Stocks of Koje, Duzon BizOn, IHQ and SK Networks fell 46 percent on average in the last five months on the main bourse, as did Corecess and STC Life on the Kosdaq.