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Samsung Electronics hit market cap milestone, takes up 25% of Kospi

Collected: 2017.10.20

Distributed: 2017.10.24

Source: Go Direct

South Korea’s top company Samsung Electronics has achieved a new milestone for the Korean Inc. with its market capitalization exceeding 400 trillion won ($353 billion) thanks to its staggering profit and stock gains this year.

The worth of Samsung Electronics common and preferred stocks listed on the main Kospi bourse on Tuesday hit 400.16 trillion won. Samsung Electronics common shares each peaked at 2,769,000 won during the day, or combined equity capital worth at 359.33 trillion won. The value of its preferred stocks amounted to 40.69 trillion won with 2,209,000 won apiece, setting a milestone for the stock that debuted in June, 1975.

The stock now takes up a quarter of the entire Kospi market. Since SK Hynix’s market cap is at 60.8 trillion won, the two technology stocks make up 30 percent of Korean shares. Any setbacks on the semiconductor front therefore could shake the entire market.

On the same day, HSBC upgraded its 12-month target price for Samsung Electronics and SK Hynix to 3.6 million won and 130,000 won, respectively. It means that market value of Samsung Electronics would near 500 trillion won and SK Hynix 100 trillion won if they hit the target price.

The main index has been refreshing record highs on the back of strong performance of the two bellwether stocks. The Kospi finished Thursday 0.4 percent lower at 2,473.05 on profit-taking.

By Choi Jae-won and Minu Kim

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