[Anchor]
The KOSPI surged significantly as gains spread evenly beyond just semiconductors to various other industries. Meanwhile, as part of strengthened listing regulations to weed out troubled companies from the stock market, 36 stocks, including those priced below 1,000 won, have been designated as administrative issues.
Reporter Kim Hye-min has the details.
[Reporter]
It was not just the two semiconductor giants that drove the KOSPI up by 3.6%.
While Samsung Electronics and SK Hynix jumped sharply by 6.6% and 5.5%, respectively, cosmetic stocks like Kolmar Korea and Cosmax, as well as Doosan Enerbility and Samsung Electro-Mechanics, also showed strong performances.
During this year's surge in the KOSPI, the concentration in semiconductors meant that decliners outnumbered advancers. However, entering this month, the number of advancing stocks has exceeded decliners every single day except one.
The KOSPI 200 Volatility Index also dropped to the 50 range for the first time in three months.
Experts explain that this indicates an easing of market concentration, with signs of sectoral rotation emerging as stock prices rise in turn across different industries.
[Han Ji-young / Researcher, Kiwoom Securities: Unlike the rebounds following the sharp drops in May and June, this bounce is not confined to semiconductors. The warmth of rotation seems to be spreading much more widely than before.]
Measures to strengthen the delisting of troubled companies from the stock market, aimed at resolving the Korea Discount, have also officially taken effect.
A total of 36 companies have been designated as administrative issues, including so-called penny stocks trading below 1,000 won, as well as firms with a market capitalization falling short of 30 billion won for the KOSPI or 20 billion won for the KOSDAQ.
These are companies whose stock prices stayed below 1,000 won for 30 consecutive trading days starting July 1 or failed to meet market capitalization criteria. If they fail to meet the standards for 45 out of subsequent 90 trading days, they will become subject to final delisting.
[Kang So-hyun / Senior Research Fellow, Korea Capital Market Institute: Regulations restricting the listing of penny stocks have been ongoing in the U.S. for a long time. When low trading volume is coupled with high price volatility, it increases the likelihood that stock prices can be manipulated intentionally.]
However, concerns are also being raised that small and medium-sized enterprises (SMEs) whose share prices plummeted due to recent stock market volatility, regardless of their actual earnings or financial health, could suffer damages.
The Korea Federation of SMEs has requested supplementary improvements to the relevant criteria and a postponement of the enforcement.
(Photo courtesy of Yonhap News)
Reported by Seol Chi-hwan | Video by Lee Sang-min | Graphics by Lee Jun-ho
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