SEOUL, June 29 (Korea Bizwire) – Electronics and semiconductors have led the latest stock market boom in Asia’s fourth-biggest economy, data showed Thursday, amid expectations of solid corporate earnings helped by the global economic recovery.
Stock prices of Samsung Electronics, SK hynix, and other electronics and semiconductor manufacturers rose 37.32 percent as of Tuesday from the beginning of this year, more than double the increase rate of 18.05 percent for the benchmark Korea Composite Stock Price Index (KOSPI), according to data by Korea Exchange.
The main bourse rose 7 percent in May alone from a month earlier, becoming the best performer among stock markets in major advanced and emerging markets.
Stocks of Samsung Electronics ended at an all-time high of 2,415,000 won (US$2,119), while SK hynix shares closed at 69,200 won Tuesday.
Medicine-related shares posted the second-highest increase ratio of 32.9 percent during the same time span, followed by medical supplies at 25.45 percent and telecommunications at 19.5 percent.
Financial businesses recorded a 17.81 percent rise, while the services industry surged 15.78 percent and the distribution industry soared 14.7 percent.
The comparable figures for the chemicals, construction, textile and clothing, and machinery sectors were 7.15 percent, 4.87 percent, 3.3 percent and 3.21 percent, respectively.
Stock prices of paper and timber and electricity and gas, meanwhile, suffered a setback of 0.93 percent and 2.69 percent, respectively, data showed.