SEOUL, Jan. 22 (Korea Bizwire) — The amount of stock sales through block deals on South Korean bourses increased sharply in 2017 from a year earlier, the Korea Exchange (KRX) said Monday.
The amount surged to 55.9 trillion won (US$52.3 billion) on the KOSPI main bourse last year, up 37 percent from the previous year.
About 8.9 trillion won worth of stocks were sold in block deals before the market opened, while 46.7 trillion won worth of stocks were sold after the market closed and 10.5 trillion won were sold after the market opened.
The volume of stock deals after the market closed declined to 70.7 percent last year from 78.9 percent in 2013, while that of stock deals after the market opened increased to 15.9 percent last year from 7.6 percent in 2013.
On the tech-heavy secondary KOSDAQ market, the amount of block deals surged to 3.4 trillion won last year, up 21.7 percent from the previous year.
The KODEX 200, an exchange-traded fund (ETF) that compiles the top 200 firms listed on the KOSPI bourse, topped the list of the trading volume through block deals on the KOSPI at 16.9 trillion won last year.
Samsung Electronics Co. came in second at 6 trillion won followed by the Tiger200 Healthcare fund at 2 trillion won, the KODEX KOSDAQ 150 at 1.9 trillion won, Naver Corp. at 1.8 trillion won, Shinhan Financial Group at 1.4 trillion won and AmorePacific at 1.3 trillion won.
Kakao Corp. topped the list on the KOSDAQ market at 370 billion won trailed by Celltrion Inc. at 131 billion won and GS Home Shopping at 119 billion won.