SEOUL: South Korea’s stock market has risen 11 percent in the past five years, far lower than other global markets’ yield rates, as the local stock market has been locked in a tight range, data showed Monday. According to the data compiled by the Korea Exchange, the country’s benchmark index, the KOSPI, closed at 2,026.46 points on the last trading day of 2016, up from 1,825.74 points five years ago. Japan’s Nikkei 225 index came at the top of the performance list by surging to 19,114.37 points from 8,455.35 points over the cited period, which represents a 126.1 percent rise. The US’ Nasdaq composite index came in second with a 106.6 percent rise, followed by Germany’s DAX Index with a 94.6 percent gain, Vietnam’s VNI with an 89.1 percent jump, the US’ S&P 500 Index with a 78 percent advance and India’s Sensex with a 72.3 percent hike, according to the data.
Hong Kong’s Hang Seng Index gained 19.3 percent over the cited period, and China’s Shanghai Composite Index enjoyed a 41.1 percent rise as well, the data showed. The country’s benchmark index has been long boxed in a tight range, out of concerns over tepid corporate earnings, U.S. rate hikes and geopolitical risks, such as North Korea’s nuclear and missile tests. In 2016 alone, the KOSPI gained 3.3 percent, with the tech-heavy, secondary Kosdaq index dropping 7.5 percent, the data showed. But other foreign stock markets basked in gains of over 10 percent last year, although China’s Shanghai index dropped 12.3 percent over a slump in the world’s No. 2 economy, according to the data. For the year, the KOSPI may build up further gains, aided by top cap Samsung Electronics Co.’s advance and improved corporate earnings.
