The KOSPI surged past 8,000 this year, but individual stocks showed sharply divided fortunes. As many stocks hit 52-week lows as those that reached 52-week highs, analysts say, widening the gap between the index's rise and investors' perceived returns.
According to the Korea Exchange (KRX) on Friday, 1,508 of the 2,875 stocks listed on the domestic market reached 52-week highs on a closing-price basis between the start of this year and Dec. 12.
Among them, 545 were KOSPI stocks. The rest were listed on the KOSDAQ and KONEX markets.
Most of the top 10 stocks by market capitalization — including Samsung Electronics and SK hynix, the KOSPI's two largest by market cap, along with SK Square, Samsung Electronics preferred shares, Hyundai Motor, Samsung Electro-Mechanics, Samsung Life Insurance, Samsung C&T, and HD Hyundai Heavy Industries — set new all-time highs by surpassing their 52-week highs in late last month or early this month, with the exception of LG Energy Solution.
By contrast, 1,763 stocks hit 52-week lows over the same period, outnumbering those reaching new highs. Of these, 530 were KOSPI stocks, while KOSDAQ stocks reached 1,172.
A total of 587 stocks recorded both 52-week highs and lows this year, accounting for 20.4% of all listed stocks. Of these, 192 were KOSPI stocks and 383 were KOSDAQ stocks. The remaining 12 were KONEX stocks. This indicates greater volatility in the KOSDAQ market.
Among high-market-cap stocks, Samsung Biologics stands out as a representative case. Samsung Biologics reached a 52-week high on Jan. 15 but continued to decline thereafter, hitting a 52-week low on the 8th. At the time, Samsung Biologics rose to fourth place by market cap on news that it would present directly at the JP Morgan Healthcare Conference, the world's largest biotech investment event, but its share price steadily fell afterward.
Theme stocks also showed significant volatility. SJ Group, mentioned as a Seoul mayoral theme stock for the June 3 local elections, reached a high in February before falling to a low after the election ended. By contrast, Seoul Semiconductor recorded a 52-week low in January this year but set a new high in mid-last month, four months later, helped by improved semiconductor investment sentiment.
The market sees a considerable possibility that volatility will continue for the time being. This is because Middle East tensions and inflation rates, which could affect whether the U.S. raises interest rates, remain sources of uncertainty.
Lee Jae-won, a researcher at Yuanta Securities, said, "The current volatility has not been completely resolved. Major monetary policy meetings next week, including the U.S. Federal Reserve (Fed) and the Bank of Japan (BOJ), could act as sources of volatility."
However, he added, "As long as the AI-driven upward trend is not damaged, a compressed approach centered on earnings stocks will continue. Unless major central banks suddenly take a strong hawkish stance, the market's attention is expected to shift smoothly to strong second-quarter earnings, which exports and price increases are proving out."
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