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Foreign ownership in POSCO, the country’s No. 1 steelmaker by sales, rose the most in recent months among the top 20 stocks in terms of market capitalization, causing a spike in the company’s share prices.
Foreign shareholdings of the steel giant jumped to 49.32 percent as of April 11 from 47.28 percent at the end of December, according to the Korea Exchange on Thursday.
The figures marked the largest gain among the top 20 market cap stocks, said the Korea Exchange.
During the cited period, POSCO share prices soared 42.64 percent to 237,500 won ($208) from 166,500 won, outperforming the broader KOSPI’s 0.46 percent gain.
The rebound came after POSCO’s plunge to 156,000 won on Jan. 21, the lowest level so far this year.
Analysts said stock prices began to rebound from late January, helped by price hikes in China and POSCO’s internal restructuring efforts.
(khnews@heraldcorp.com)
Foreign shareholdings of the steel giant jumped to 49.32 percent as of April 11 from 47.28 percent at the end of December, according to the Korea Exchange on Thursday.
The figures marked the largest gain among the top 20 market cap stocks, said the Korea Exchange.
During the cited period, POSCO share prices soared 42.64 percent to 237,500 won ($208) from 166,500 won, outperforming the broader KOSPI’s 0.46 percent gain.
The rebound came after POSCO’s plunge to 156,000 won on Jan. 21, the lowest level so far this year.
Analysts said stock prices began to rebound from late January, helped by price hikes in China and POSCO’s internal restructuring efforts.
(khnews@heraldcorp.com)
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Articles by Korea Herald
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