January 09, 2020 12:23
The number of listed companies in Korea with market caps of more than W1 trillion increased by only two last year as the stock market performed poorly (US$1=W1,178).
The stock market was depressed by the U.S.-China trade war, lackluster corporate earnings, Japanese export restrictions and escalating protests in Hong Kong.
According to the Korea Exchange on Wednesday, the market cap of 163 companies on the Korea Composite Stock Price Index and 26 on the junior Kosdaq surpassed W1 trillion as of late last year.
But the combined W1,275 trillion market cap of the "billion dollar club" on the KOSPI is still lower than that of a single U.S. company, Apple, which is US$1.3 trillion or about W1,530 trillion.
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