Korean stocks lag behind Asian peers: data

South Korean stock market has been in a relatively sharper slump compared with other regional rivals as local companies, undercut by a weak Japanese yen and a slowdown in economic growth, suffered a steep drop in their earnings, industry data showed on Sunday.

South Korea’s key stock index, the KOSPI, declined 1.23 percent this year through Friday, ranking 12th among 14 regional stock indices, according to the data compiled by the Korea Exchange.

The Shanghai Composite Index posted the biggest gain of 38.83 percent this year, surpassing the 2,900-point level for the first time since May 2011, to close at 2,937.65 points on Friday. China’s stock market has been rallying on hopes for further monetary easing to boost the world’s second-largest economy.

India’s benchmark S&P BSE Sensex Index, buoyed by its Prime Minister Narendra Modi’s pledge to revive the economy, has rallied 34.42 percent through Friday this year.

The Stock Exchange of Thailand came in third with a 23.03 percent gain, and the Philippine Stock Exchange Composite Index (PSEi) has shot up 22.76 percent this year over the cited period, the data showed.

Japan’s Nikkei Average Index has gained 10 percent so far this year on a weakening Japanese yen and the prime minister‘s pledge to bolster the world’s third-largest economy. (Yonhap)