▲ The KOSPI index is displayed at the dealing room of the Hana Bank headquarters in Seoul on the 29th. The KOSPI showed a 1-2% rise in early trading today, but turned downward again and fell below the 6,000 mark.
As the market plunge continued for consecutive days, the total market capitalization of the domestic stock market dropped below 5 trillion won today (the 29th) for the first time in about four months.
According to the Korea Exchange, the total market capitalization of the domestic stock market (KOSPI + KOSDAQ + KONEX) was tallied at 4,723.131 trillion won.
Looking by market, the current market capitalization of the KOSPI stands at 4,365.601 trillion won, while KOSDAQ and KONEX stand at 354.164 trillion won and 3.366 trillion won, respectively.
According to the exchange, it has been about four months since April 2 that the domestic market capitalization fell below the 5 trillion won mark.
Previously, the total market capitalization of the domestic stock market surpassed 4 trillion won for the first time in history on January 2, and exceeded 5 trillion won a month later on February 3.
Afterwards, as market volatility expanded due to the impact of the Iran war, it fluctuated and surpassed 6 trillion won for the first time in history on April 27, about two months later, and then broke through even the 7 trillion won mark eight trading days later on May 11.
Later, it soared to 7,997 trillion won on June 22, bringing it within sight of breaking the 8 trillion won mark.
However, as stock prices began a downward trajectory amid concerns over a semiconductor industry peak-out, the market capitalization also began to shrink accordingly.
Consequently, after giving up the 7 trillion won mark on July 2, it slid below 6 trillion won on July 20, and today even surrendered the 5 trillion won mark.
In this month alone, more than 2 trillion won has evaporated from the domestic stock market's capitalization.
This rapid decline in market cap is largely attributed to the recent consecutive days of sharp drops in the domestic stock market driven by the weakness of major semiconductor shares.
As of 2:00 PM today, the KOSPI is plunging 8.71% to 5,498.91, and the KOSDAQ index is also recording 649.54, down 7.98%.
This follows a sharp tumble yesterday where the KOSPI plummeted 10.84% and the KOSDAQ index dropped 7.72%, marking a severe plunge for the second straight day.
Amid the sharp market downturn, program trading sell order sidecars were triggered on both the KOSPI and KOSDAQ markets this morning, following yesterday's suspensions.
Circuit breakers, which temporarily halt trading, were also triggered on both markets for two consecutive days.
(Photo: Yonhap News)
※
Copying, redistribution, and unauthorized use in AI training are strictly prohibited.