Korea Zinc Achieves Historic 9th Place in Market Cap... Surpasses Shinhan Financial Group and POSCO

'Jeonyakhugang' Market Trend Emerges... 3 Consecutive Days of Gains
Korea Zinc Market Cap Surpasses Shinhan Financial Group and POSCO Holdings
'Leader' Samsung Electronics Nears 60,000 Won, Driving the Index

The KOSPI continued its upward trend for the third consecutive trading day, successfully defending the 2600 level. The highlight of the day was Korea Zinc, which rose to 9th place in market capitalization on the Korea Exchange (excluding preferred shares).

On the 29th, the KOSPI closed at 2617.80, up 5.37 points (0.21%) from the previous session. The index opened at 2606.94, down 5.49 points, reached a high of 2610.90, then turned downward. It briefly fell below the 2600 mark, hitting a low of 2595.86. Throughout the morning, the KOSPI fluctuated around 2600, but buying momentum strengthened in the afternoon, pushing the index above the previous day's closing price.

By investor type, individual investors purchased 110.7 billion KRW, and institutions bought 12.8 billion KRW. Conversely, foreign investors sold 134.4 billion KRW, marking their fourth consecutive day of net selling.

Among the top 10 stocks by market capitalization, the leading stock Samsung Electronics supported the index with a 2.58% gain. The most notable stock was Korea Zinc. Despite being involved in a management dispute, Korea Zinc surged 18.60%, setting a new all-time high and climbing to 9th place in market capitalization. Korea Zinc's market cap stands at 31.9451 trillion KRW. The next highest market cap is Shinhan Financial Group at 28.8825 trillion KRW, while POSCO Holdings, which had been a consistent member of the 'top 10,' slipped to 11th place with 28.6293 trillion KRW. Meanwhile, SK Hynix (-2.91%), LG Energy Solution (-1.80%), and Kia (-1.88%) showed weakness.

Lee Jaewon, a researcher at Shinhan Investment Corp., said, "Trading volume remains minimal due to uncertainty surrounding the U.S. presidential election," adding, "Semiconductor stocks like SK Hynix declined following Trump's remarks that foreign companies receiving semiconductor subsidies are unfair." He also noted the need to monitor momentum from the Russia-Ukraine war and North Korean troop deployment, Trump trading (increased defense cost sharing), employment data that could impact the market burdening interest rate (4.3%), and momentum from the Bank of Japan (BOJ) interest rates.

The KOSDAQ index closed at 744.18, up 3.70 points (0.50%) from the previous day.

By investor type, individuals and institutions were net buyers of 4.8 billion KRW and 16.6 billion KRW, respectively. Foreign investors were net sellers of 25.9 billion KRW in the KOSDAQ as well.

798 stocks closed higher, 762 stocks declined, and 121 stocks remained unchanged. Leading the gains were Alteogen (1.85%), along with Rigachem Bio (3.54%), Hugel (4.34%), and Classys (3.11%).