Seoul: The market capitalization of defense stocks rose while that of auto and shipbuilding shares fell on the benchmark Korea Composite Stock Price Index (KOSPI) about a month after U.S.-Israeli air strikes on Iran, bourse data showed Sunday.
According to Yonhap News Agency, data by the Korea Exchange (KRX) showed that Samsung Electronics Co. retained the top spot in market capitalization, with 1,063.8 trillion won (US$705 billion) as of Friday, followed by SK hynix Inc. with 657.1 trillion won.
Top carmaker Hyundai Motor Co. remained in third place, but its market value declined 26.6 percent to 101.3 trillion won between Friday and Feb. 27, a day before the outbreak of the military conflict in the Middle East, as prolonged regional tensions disrupted the global supply chains and pushed up oil prices. Its sister company, Kia, slipped two notches to ninth place, with its market cap plunging 24.2 percent over the same period.
Major shipbuilder HD Hyundai Heavy Industries Co. saw its market value decline 17.3 percent, dropping to 11th place from ninth. However, defense giant Hanwha Aerospace saw its market capitalization increase 11.7 percent to 68.8 trillion won from 61.6 trillion won over the cited period, with its ranking climbing three notches to seventh. LIG Nex1 Co.'s market value surged 44.4 percent, and Hanwha Systems Co. rose 9.2 percent.