Intensifying focus of large-cap stocks in the top 10 market caps
Transformed into a growth market led by semiconductor and BBIG
Reporter Kang Soo-yoon = It is noteworthy that the KOSPI, led by large-cap stocks, will exceed the 3150 mark in one day following the breakthrough of 3,000 points and continue the upward trend.
According to the Korea Exchange on the 9th, the previous day KOSPI ended at 3152.18, up 120.50 points (3.97%) from the previous trading day (3031.68). The index soared a whopping 120 points due to the surge in stocks with the highest market capitalization.
Excluding Samsung Biologics (2.2%), Celltrion (+2.66%) and Naver (7.77%), 7 stocks changed their 52-week reported price, and all 10 stocks showed an uptrend.
Samsung Electronics, the No. 1 leader in market capitalization, finished the market at 88,800 won, up 7.12% from the previous trading day. In particular, Samsung Electronics recorded 90,000 won for the first time during the week. Samsung Electronics’ stock price reached 90,000 won for the first time, exceeding 80,000 won during the intraday on December 28 of last year, and has reached the 90,000 won level within a week.
The reason for the surge in Samsung Electronics is attributed to bad news related to its semiconductor rival TSMC. Digital Times reported that Taiwan’s TSMC will delay the development of 3-nano process technology due to the bottleneck of core technology, which will delay mass production. In addition, Samsung Electronics announced that last year’s operating profit was 35.9 trillion won, a 29.5% increase from the previous year.
Due to the news of the electric car collaboration with Apple, Hyundai Motor closed the deal at 246,000 won, up 19.42% from the previous trading day. During the intraday, it soared to 257,000 won, and the 52-week report price was newly written. The stock price rose by 33% this year alone. Hyundai Mobis also closed the deal at 35,500 won, up 18.06%. During the intraday, it touched 395,500 won and reached a record high in 10 years.
LG Chem also closed the deal at 999,000 won, up 3.85% from the previous day. The intraday stock price soared 5.61%, recording a reported price of 1016,000 won. This year, LG Chem’s return is 21.24%, and the stock price is rising vertically as the battery business value is entering a revaluation phase.
SK Hynix, the second largest semiconductor stock in the KOSPI market capitalization, closed the market at 138,000 won, up 2.6% from the previous day. SK Hynix updated the reported price by rising to 137,500 won on the 7th. Based on the declared price, the market capitalization is KRW 100,100,3 billion. Among the stocks listed in Korea, only Samsung Electronics and SK Hynix have a market capitalization of over 100 trillion won.
With the opening of the KOSPI 3000 era, there was a shift in the rankings of companies with the highest market capitalization in the securities market.
On the 7th, the total market capitalization of KOSPI exceeded 2,000 trillion won for the first time in history at 2086 trillion 578.6 billion won. The market capitalization of the top 10 stocks in the securities market increased from 967 trillion won to 1031 trillion won in one day.
The top 10 stocks in the market cap are Samsung Electronics (530 trillion 1166 billion won), SK Hynix (100 trillion 443 trillion won), LG Chem (70 trillion 5271 billion won), Samsung Biologics (55,3801 trillion won), and Hyundai Motors (52,562.3 billion won). , Naver (51,2501 billion won), Samsung SDI (50,816.9 billion won), Celltrion (49,5441 billion won), and Kakao (38,391.5 billion won).
On the 7th, Hyundai Motor, which was 8th in the market cap, climbed to 5th place as stock prices soared nearly 20%, and Celltrion, which was 5th, fell to 9th.
Five companies, including Samsung Electronics, SK Hynix, Hyundai Motor, LG Chem, and Naver, have maintained the top 10 market cap over the past five years. KEPCO, Amorepacific, Samsung Life Insurance, and Samsung C&T all fell out of the top 10.
On the other hand, semiconductors,’BBIG’ (bio, battery, internet, game), and bio stocks rose sharply due to the anticipation of the 4th industrial revolution and the rapid increase in untact (non-face-to-face) caused by the novel coronavirus infection (Corona 19) last year.
Emerging runners such as Samsung Biologics, Celltrion, Samsung SDI, and Kakao have entered the position where the existing strong have left. As rechargeable batteries attracted attention as a new growth industry in the future, Samsung SDI jumped from 18th to 8th.
In the securities industry, it is expected that the market led by growth stocks such as semiconductors, batteries, bios, and the Internet will continue to be strong.
Kim Joong-won, head of the investment strategy team at Hyundai Motor Securities, said, “As the benefits of Untact emerged due to the forced digital environment change due to Corona 19, the market cap of domestic listed companies also changed.” It is mainly composed of growth stocks such as bio and internet industries,” he explained.
Dae-hoon Han, a researcher at SK Securities, said, “The average balance of M2 (market currency) exceeded 3160 trillion won. Compared to M2, the market capitalization of the domestic stock market is 76%, lower than 90%, just before the financial crisis. “I think it is possible to have additional upside potential.”
However, there are opinions about the weakness of large stocks. Lee Kyung-soo, researcher at Hana Financial Investment, said, “Recently, small and mid-cap stocks have higher earnings momentum than large-cap stocks, but empirically, when the earnings momentum of small and mid-cap stocks was relatively high, the performance was high.” If only one of the two becomes a reality, we expect a strong out-perform for small and medium-cap stocks as the market for matching (with large-cap stocks).”
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