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Samsung Group affiliates make up third of market cap on main bourse
By YonhapPublished : Nov. 2, 2017 - 10:14
Samsung Group shares account for roughly one-third of market capitalization on South Korea's main bourse as they continue to gain ground, data showed Thursday.
Finance market analyzer FN Guide put the total market cap of 15 Samsung Group affiliates at 529.36 trillion won ($476.25 billion) as of Wednesday's closing. It marks a 9.04 percent increase since Oct. 10, when the main KOSPI market reopened after the 10 day Chuseok, or autumn harvest, holiday.
The KOSPI's market cap rose 4.95 percent during the period to 1,602.59 trillion won.
The market cap of Samsung Group stocks equaled 33.03 percent of the total as of Wednesday, up from 31.79 percent.
Hotel Shilla stood out among the group affiliates, gaining 32.92 percent in market cap. Hopes of better Seoul-Beijing relations fueled the increase, on top of its near 20-percent rise in third-quarter operational profits compared to the same quarter last year, despite worries of heavy losses from a lack of Chinese customers.
Samsung SDS also reached double-digit growth in terms of its market cap with 22.58 percent, along with Samsung Life Insurance with 20.61 percent and Samsung Biologics at 16.67 percent.
Samsung Electronics, the crown jewel of the business group, added 8.37 percent to its market cap to hit 361.26 trillion won. The company's shares ended at record-high 2.86 million won at Wednesday's closing.
These performances put four of the group's affiliates in the top 10 market cap rankings, led by Samsung Electronics at No. 1., with Samsung C&T following at No. 5, Samsung Life Insurance at No. 8 and Samsung Biologics at No. 9. (Yonhap)
