KOSPI ranks world’s 13th performer

[THE INVESTOR] The benchmark Korea Composite Stock Price Index ranked 13th among major global stock market indices in terms of performance for a month ending June 14, a local securities firm said Thursday.

The KOSPI produced a negative return of 0.57 percent during the period to take a slightly higher position among 40 major market indices worldwide examined by Daishin Securities. 

During the period, the KOSPI skidded from 1,983.40 points to 1,972.03 points.

The KOSPI touched this year’s high of 2,035 on June 9 but Korean stocks fell for five consecutive trading sessions as investor sentiment was spooked by the rising likelihood of Britain leaving the European Union, and investors await the Federal Reserve’s rate decision.

“Amid growing anxiety ahead of the big events, the KOSPI was able to retain upper-middle level ranking because it hit the year’s record high last week,” said Lee Kyung-min, analyst at Daishin Securities.

Out of the 40 countries, only 10 stock markets produced positive returns during the period. Among them only three countries -- Argentina, Egypt and Vietnam -- gained more than 1 percent of return.

By Park Han-na (hnpark@heraldcorp.com)