Bad performances from Samsung and Hyundai take toll on stock market 하반기 내수주 전

As Samsung and Hyundai go,... so goes the Korean stock market.
And with the two companies in recent months turning in poor performances in a number of areas, the local bourse has taken a hit.
Connie Kim reports.
The poor performance of the top two Korean companies is reshaping the country′s stock market.
The share movement of Samsung Electronics and Hyundai Motor used to dictate the trend of the Korean bourse but their influence have recently diminished, with many other companies moving in the other direction.
Samsung and Hyundai together accounted for 25 percent of the overall market capitalization last year but dramatic drops in their share prices in recent months means their combined share value has dropped to less than 16 percent.
That′s because roughly 60 billion U.S. dollars have been wiped out in the valuation of the two companies in the past year.
In contrast, companies in communications, textile, apparel, banking and other financial industries have all gained prices by more than 20 percent in less than three months.
This is partly because the Korean government began injecting 25 billion dollars into the economy to spur domestic spending and accelerate a recovery.
The poor performance by Samung and Hyundai is blamed partly on a high Korean currency.
But share analysts say the main reasons behind their plunge are poor sales of new smartphone and cars rolled out by the Korean electronic and auto giants.
Share investors have expressed disappointment for Hyundai′s decision to buy a land plot in Seoul at some 10-billion dollars, more than double the widely published market evaluation.
Many component makers in the auto and electronics industries saw their shares drop by more than 10 percent in the past three months.
Connie Kim, Arirang News.