WIZIT Co.,Ltd. (036090) Jumps 2.45% on Jun 2

June 2, 2018 - By Stephen Andrade

Shares of WIZIT Co.,Ltd. (KOSDAQ:036090) last traded at 1675, representing a move of 2.45%, or 40 per share, on volume of 1.48 million shares. After opening the trading day at 1640, shares of WIZIT Co.,Ltd. traded in a close range. WIZIT Co.,Ltd. currently has a total float of 64.32M shares and on average sees 65.23 million shares exchange hands each day. The stock now has a 52-week low of 1000 and high of 2855.

South Korea: Korea Composite Stock Price Index (KOSPI)

Korea Composite Stock Price Index (KOSPI) tracks the daily performance of all the stocks on the Stock Market Division of the Korea Exchange. Including WIZIT Co.,Ltd. shares. That makes it a key indicator of the health of Korean equities.

KOSPI replaced Korea Composite Stock Price Index (KCSPI), which was styled like the Dow Jones of the U.S.The base value of KOSPI was set at 100 points in January1980, though the index wasn’t published until 1983.

KOSPI reached its largest single-day percentage gain of 8.50% (or 23.81 points) on June 17, 1998. That move came at a time when investors were returning to undervalued Asian stocks after a period of financial crisis in the Asian region that started in Thailand. They turned attention to the validity of WIZIT Co.,Ltd. stocks. The record one-day gain helped KOSPI to recoup most of what it lost during the financial crisis.

However, a few years later KOSPI would record its largest single-day decline of 12.02% (or 64.97 points) on September 12, 2001. But the record one-day decline had much to do with investor panic reaction as it came on the wake of the terror attack in the U.S., popularly known as 9/11. The terror attack cause global panic and triggered widespread stock losses.

KOSPI hit a lifetime low of 93.10 points in January 1981, but recovered steadily over the years to reach a lifetime high of 2228.96 in May 2011.

2000 points milestone

KOSPI moved below 1000 points for many years and only managed to reach the 2000 milestone in July 2007.

Sub-indices

KOSPI has more than 700 constituents. But the broader index has multiple more sharply focused sub-indices under its umbrella. For example, there are sub-indices thattrack the top 200 companies, top 100 companies and top 50 companies in South Korea’s stock market based on market capitalization. Being in the list of KOSPI gives WIZIT Co.,Ltd. more bonuses.

KOSPI 200, which is the index of the 200 largest companies on Korea’s stock market, tends to move in tandem with the broader all share index KOSPI. That is mainly because KOSPI 200 makes up more than 70% of KOSPI on market capitalization measure. KOSPI 200 is an investible index as it is listed on options and futures markets. Furthermore,KOSPI 200 is one of the world’s most traded indices.

KOSPI 200 was set up with a base value of 100 points. The narrow index first breached the 100 points mark in April 2007. But the index hit its all-time low of 31.96 points in June 1998, around the time Asia was facing one of its worst financial crises.

KOSPI 100 is the index of top 100 largest companies listed on the Korea’s stock market. Its constituents are also components of KOSPI 200.

Appetite for Korea stocks

Domestic and foreign investors are attracted to South Korea stocks as they look to grow wealth while betting on the country’s vibrant export economy. WIZIT Co.,Ltd. attracts their attention. Retail investors have particularly been jostling for a piece of South Korean equities in the recent times amid bullish economic outlook for the Asian region. Asia-Pacific is projected to account for 26% of the world’s financial wealth by 2019, up from 24% in 2014.Improving corporate governance issues is another attraction to Korea stocks. Authorities in several Asian markets are tightening corporate regulations to make the region attract for foreign direct investment.

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