The number of South Korean-listed companies with market capitalization over 1 trillion won surpassed 400 for the first time this year. This follows a stock market recovery before the Middle East conflict. The KOSPI hit a record high.
Data from the Korea Exchange (KRX) showed that as of Wednesday, May 1, 405 listed companies had market capitalization exceeding 1 trillion won (US$679.7 million), including preferred shares. Of these, 267 were on the KOSPI, 137 on the tech-heavy KOSDAQ, and one on KONEX.
This marks a sharp increase from 377 companies on February 27, just before the U.S. and Israel initiated strikes on Iran. The market had fallen as much as 12 percent in a single session after the war began but rallied on an artificial intelligence boom ahead of earnings season.
The benchmark KOSPI closed at a record 6,690.9 points on Wednesday. The recovery reflects a dramatic turnaround from pre-Middle East conflict lows.
