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Market cap of top 10 biz groups contract 64.4 tln won in Oct.: report

2018/10/14 11:08

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SEOUL, Oct. 14 (Yonhap) -- The aggregate value of shares issued by South Korea's top 10 business conglomerates dropped 64.4 trillion won (US$56.8 billion) in October alone, a report by a corporate research firm showed Sunday.

The findings by Chaebul.com comes after the country's benchmark KOSPI and secondary KOSDAQ market contracted 4 percent and 5 percent, respectively, in the same period, which directly impacted the value of 95 listed companies belonging to the largest business groups.

The combined market capitalization of these companies stood at 864.96 trillion won as of Friday, down 6.9 percent from 929.4 trillion won tallied as of late last month, the corporate information provider said.

During the same period, the value of shares traded on the local bourse, which includes both the KOSPI and KOSDAQ markets, backtracked 149.19 trillion won or 8.1 percent to 1,691.68 trillion won from 1,840.88 trillion won.

By conglomerate, Chaebul.com said the value of shares issued by Samsung Group fell 6.3 percent from 498.85 trillion won to 467.38 trillion won. This is the sharpest fall among South Korean conglomerates in the time period, with Samsung Electronics Co., the group's flagship, losing 15.72 trillion won.

Hyundai Motor Group, which counts Hyundai and Kia Motor companies and Hyundai Mobis Co. as its main affiliates, saw its market capital backtrack 11.7 percent to 83.53 trillion won from 94.6 trillion won.

LG and SK groups said the total values of shares were down 11.2 percent and 2.9 percent, respectively, with the aggregate worth of listed shares standing at 10.51 trillion and 122.7 trillion won.

In addition, steelmaker POSCO, Hanwha, Lotte, Hyundai Heavy, Nonghyup and GS all reported a decrease in their total shares value coming into this month.

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angloinfo.com