Seoul bourse to release new 'KRX Mid200' index this month

SEOUL, June 11 (Yonhap) -- South Korea's bourse operator said Monday it will introduce a new index tracking mid-cap shares from both the benchmark KOSPI and secondary KOSDAQ this month as part of efforts to draw in more investors.

The new index, to be named "KRX Mid200," will incorporate 67 KOSPI shares and 133 KOSDAQ entities with market capitalizations above the top 700 threshold and 85 percent in terms of trade turnover, according to the Korea Exchange (KRX).

It will be released on June 25, it added.

The planned launch comes after the bourse operator put forth the cherry-picked basket of stocks, the KRX300 index, in February in a bid to revitalize the tech-laden KOSDAQ market.

By industry sector, healthcare companies accounted for the largest proportions for the KRX Mid200 index with 25.5 percent, followed by tech and telecommunications firms with 24.6 percent, and materials entities with 13.7 percent, the KRX said, adding their market capitalization came to 400 billion won (US$372.1 million) on average.

"The planned launch of the KRX Mid200 will diversify products that integrate the two bourses, which are expected to contribute to the balanced growth of the domestic stock market," the KRX said in a statement.

graceoh@yna.co.kr
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