Seoul, July 7
The combined market value of listed firms in South Korea increased sharply in the second quarter from three months earlier, driven by a rally in the country's stock market, a corporate tracker said on Monday.
The market capitalisation of 2,758 companies listed on the country's main and secondary markets came to a combined 2,856 trillion won (US$2.09 trillion) as of end-June, up 22.9 percent, or 532 trillion won, from the previous quarter, according to the Korea CXO Institute, reports news agency.
A total of 2,066 firms, or 74.9 percent, saw their market cap rise over the cited period, while 599 companies, or 21.7 percent, posted declines. The remaining 93 firms, or 3.4 percent, either remained unchanged or were newly listed.
In the first quarter, in contrast, more than 60 percent of the listed firms had experienced a drop in their market cap.
The number of companies with a market capitalisation exceeding 1 trillion won came to 284 as of end-June, up 42 from three months earlier. Those with a valuation of over 10 trillion won rose to 55 from 43 over the same period.