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Top 10 firms' presence falls on Seoul bourse

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(Globalpost/GlobalPost)

SEOUL, July 9 (Yonhap) -- South Korea's top 10 listed firms by market capitalization saw their presence on the main bourse decline this year due mainly to falling share prices of market leader Samsung Electronics Co., data showed Tuesday.

The combined market cap of the top 10 firms on the main stock market came to 404.3 trillion won (US$351.2 billion) Friday, down 10.5 percent from 451 trillion won tallied at end-December 2012, according to the data by the bourse operator Korea Exchange (KRX).

The figure represents some 34.1 percent of the aggregate market cap of the listed firms on the main bourse, down 1.7 percentage point from 35.8 percent tallied at end-December last year.

Samsung Electronics, the world's top smartphone maker, was the biggest loser with its market cap reaching 187 trillion won on Friday, compared to 224 trillion won tallied at end-December 2012.

The tech giant's presence on the main bourse came to 15.8 percent, down 1.94 percentage points over the cited period.

Market watchers said the price decline in shares of Samsung Electronics came as investors' sentiment was dented due to sluggish sales of the Galaxy S4, which could hurt its mobile business's profit margin.

Hyundai Motor Co., the country's leading carmaker, posted a market cap of 47 trillion won on Friday, compared to 48 trillion won tallied at end-December last year. Its market presence came to 3.97 percent, the data also showed.

Top steelmaker POSCO and leading auto parts maker Hyundai Mobis Co. also saw their presence move down 0.23 percentage point and 0.09 percentage point, respectively, over the cited period to reach 2.18 percent and 2.13 percent.

Samsung Life Insurance Co. and Shinhan Financial Group saw their presence on the main bourse edge up 0.05 percentage point and 0.02 percentage point, respectively, to reach 1.78 percent and 1.51 percent.

Market watchers added the top 10 listed firms' presence on the main stock market is anticipated to fall down the road due to a gloomy outlook over the performance of Samsung Electronics.

Samsung Electronics estimated Friday it had posted a record quarterly operating profit of 9.5 trillion won in the second quarter of this year. The guidance was lower than the market estimate of 10.2 trillion won.

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