KOSPI and KOSDAQ market capitalization evaporated by 620 trillion won in over a year

The market caps of the KOSPI and KOSDAQ markets have evaporated by 620 trillion won in over a year due to the intense US tightening movements.

As of the closing price of the 23rd, the KOSPI's market capitalization decreased by 509,917.4 billion won from 231.4 trillion won to 1804.5 trillion won.

The KOSDAQ fell to 332.938 trillion won.

Samsung Electronics, the top-ranked company by market capitalization, dropped 32.9% from 81,200 won to 54,500 won on July 6 last year, losing 1593 trillion won in market cap.

SK Hynix's market cap also shrank by 30 trillion won.

The market caps of Kakao and Naver lost more than 77 trillion won as investor sentiment for growth stocks froze on interest rate hikes.

The stock price correction is due to the accelerating outflow of investment funds from markets around the world due to the tightening of central banks in major countries including the United States.

Foreigners net sold 16,754.7 billion won in both the KOSPI and KOSDAQ markets this year.

(Photo = Yonhap News)