Korean Stocks Plunge to Historic Lows

  • By Kim Eun-jung

    May 23, 2022 12:42

    Out of 2,497 Korean stocks, 20.1 percent have fallen to the lowest point in a year.

    According to the Korea Exchange on Sunday, 160 out of 940 stocks listed on the Korea Composite Stock Price Index fell to their 52-week lows over the past year, as did 343 out of 1,577 stocks on the junior Kosdaq.

    Samsung Electronics, the top issue in terms of capitalization, fell to a new low of W64,800 on April 28, while sixth-ranked Naver fell to a new low of W266,500 last Thursday (US$1=W1,268).

    Kakao shares plunged to a new low of W80,000 the same day. Compared to their highs last summer, Naver is down 43 percent and Kakao 54 percent.

    On the Kosdaq, Celltrion Healthcare shares plummeted 56 percent and Celltrion 59 percent. Kakao Games and Pearl Abyss, two leading game stocks on the Kosdaq, also fell 53 percent and 61 percent from their previous highs.

    Foreign and institutional investors led the exodus. Foreign investors sold W14.8 trillion worth of stocks on the KOSPI, while institutional investors dumped W9 trillion worth so far this year.

    • Copyright © Chosunilbo & Chosun.com
    Previous Next
    All Headlines Back to Top