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Market value sheds W30 tril. in 2 weeks.
(From The Korea Herald)
The combined market capitalization of companies listed on the Korea Stock Exchange lost about 30 trillion won ($26 billion), as the local stock market tumbled on the appreciation of the won and an expected hike in oil prices since Chuseok, Korea's biggest holiday, ended Sep. 14.
During the 11 trading days from the end of Chuseok to Sept. 29, the benchmark Korea Composite Stock Price Index, which started the period at 767.46, dropped to 696.06, a 9.2 percent drop, which translates into total market capitalization dropping by 29.74 trillion won.
The 10 largest stocks saw their combined market capitalization fall from 165.99 trillion won to 149.22 trillion won, down 10.1 percent.
Samsung Electronics Co., the world's largest memory-chips maker and the domestic company with the highest valuation, fell by 16.3 percent, lowering its market cap from 69.67 trillion won to 58.28 trillion won during the cited ...
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