The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Luxury brands continue hiking prices in Korea

  • 3

    China flags consequences of Yoon's stronger coupling with US, Japan

  • 5

    Napoli's Kim Min-jae named Serie A's best defender, makes Team of the Season

  • 7

    BTS producer encourages anticipation for future messages from group

  • 9

    Pyongyang as lived experience: existentialism and identity in North Korea

  • 11

    US, China trade blame as hopes for military dialogue fade

  • 13

    Defense chiefs of S. Korea, US, Japan to meet in Singapore amid NK threats

  • 15

    PHOTOSTrain collision in India

  • 17

    S. Korea, US agree on joint probe into NK 'space rocket' debris once salvaged: Seoul official

  • 19

    Zelenskyy says Ukraine ready to launch counteroffensive

  • 2

    India train crash kills over 280, injures 900 in one of nation's worst rail disasters

  • 4

    INTERVIEW'One Day Off' star Lee Na-young, director on creating subtle, feel-good series

  • 6

    Wall Street leaps, nearly escapes its bear market after strong jobs report

  • 8

    From hip-hop idols to global superstars, BTS shatters records over decade

  • 10

    'The Roundup: No Way Out' tops 3 mil. admissions

  • 12

    UN official calls out Security Council for inaction on N. Korea

  • 14

    House lawmakers urge US to rally allies over China's Micron ban

  • 16

    Reasons to talk about North Korea

  • 18

    US, Japan, S. Korea aim to share NK missile warning data

  • 20

    EU's top diplomat discusses Ukraine's ammunition needs with S. Korea

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
Mon, June 5, 2023 | 02:20
Markets
KOSPI New Year rally contrasts with bearish performance in 2022
Posted : 2023-01-16 17:00
Updated : 2023-01-17 15:50
Anna J. Park
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
gettyimagesbank
gettyimagesbank

By Anna J. Park

Korea's main benchmark, the KOSPI, is reversing last year's bearish performance, as it continues its upward trend since the start of the new year.

According to the Korea Exchange (KRX), the KOSPI index rose by 6.69 percent during the first two weeks of January, putting it at eighth among the G-20 countries' main benchmark bourse operators for the same period. The main benchmark's increase rate this year has exceeded that of other major countries, including the U.S., Japan and China.

Argentina's MERVAL index ranked first with an increase rate of 19.83 percent during the first two weeks of this year, followed by Mexico's IPC index at 10.55 percent. Euro markets also showed strong upward moves, with EURO STOXX5 50, Italy's FTSEMIB, France's CAC40 and Germany's DAX30 following down the list.

The KOSPI's bullish movements this year contrasts with its poor performance throughout last year, during which it fell by 24.89 percent annually. Due to its downward movements last year, the KOSPI ranked second to last among the G-20 countries' main stock market indices, only defeating Russia's key market index. Considering that Russia invaded Ukraine early last year and was at war with the country, Korea's stock market had effectively the worst performance among the major countries last year.

The completely different bullish atmosphere of the Korean stock market this month is attributed to expectations over China's reopening as well as the weaker dollar. Both factors have led foreign investors to return to key export-driven stock items, resulting in soaring prices for major semiconductors and secondary batteries, which comprise of about one-fifth of the KOSPI's total market cap. Samsung Electronics' stock price rose by 9.9 percent during the first two weeks of this month, while SK hynix, another major global chip maker, also saw its stock price soar by 14.3 percent during the period.

"Market watchers thought that the current phase could be the bottom, after Samsung Electronics posted an earning shock for the fourth quarter last year. It means that the market will likely make a rebound after hitting the bottom," Park Sang-hyun, an economist at HI Investment & Securities, said.

Growth stocks, including those of IT-based big tech firms like Naver and Kakao, have also been rallying, leading the KOSPI index's gains, nearing the 2,400-point mark. After the KOSPI ended with 2,236.40 points at the end of last year, it finished with 2,399.86 on Monday's closing.

Stabilized energy prices, such as natural gas, are also contributing to market expectations that Korean corporations could rake in more profits this year.


Emailannajpark@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
Top 10 Stories
1[LIFE'S OLLE TRAILS 1] How hiking Jeju's 437km of trails changed my life LIFE'S OLLE TRAILS 1How hiking Jeju's 437km of trails changed my life
2Korea denies discussion with EU on sending ammunition to Ukraine Korea denies discussion with EU on sending ammunition to Ukraine
3Election watchdog under fire for refusing to accept inspection Election watchdog under fire for refusing to accept inspection
4Concerns rise over Samsung SDS' growing intra-group transactionsConcerns rise over Samsung SDS' growing intra-group transactions
5S. Korea, Japan agree to prevent recurrence of radar disputeS. Korea, Japan agree to prevent recurrence of radar dispute
6K-food transforms global culinary industry K-food transforms global culinary industry
7Public welcomed to rediscover newly demilitarized land in Yongsan Children's Garden Public welcomed to rediscover newly demilitarized land in Yongsan Children's Garden
8Shipbuilding stocks rally over hope for 'super cycle' Shipbuilding stocks rally over hope for 'super cycle'
9Korea sees record-high number of flu patients for late spring Korea sees record-high number of flu patients for late spring
10Korean bio firms to seek new opportunities at int'l convention in BostonKorean bio firms to seek new opportunities at int'l convention in Boston
Top 5 Entertainment News
1Baritone Kim Tae-han wins Queen Elisabeth Competition Baritone Kim Tae-han wins Queen Elisabeth Competition
2Busan Film Festival accepts director Huh Moon-yung's resignation Busan Film Festival accepts director Huh Moon-yung's resignation
3[INTERVIEW] 'One Day Off' star Lee Na-young, director on creating subtle, feel-good series INTERVIEW'One Day Off' star Lee Na-young, director on creating subtle, feel-good series
4'HyeMiLeeYeChaePa' producer Lee Tae-kyung hopeful of second season 'HyeMiLeeYeChaePa' producer Lee Tae-kyung hopeful of second season
5How artist Michael Rakowitz resurrects lost past of Iraq through food packaging How artist Michael Rakowitz resurrects lost past of Iraq through food packaging
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group