As the global economy is in transition from the stage of recovery to the phase of expansion, the shares of Korea's export companies are galloping. In particular, the performance of the cyclical industries such as info-tech, construction, steel, and chemical are showing strong signs of improvement.
On the back of such improvements in corporate performance, some analysts expected the KOSPI index to reach a historic high of 2,500 points.
According to financial information provider FnGuide on May 28, 168 out of the 230 listed companies which have earnings estimates for the second quarter expected their second-quarter results to be better than their first-quarter results. Seven among them expected to be able to take a turnaround to the black in the second quarter.
In other words, two out of three listed companies would have brighter results in the second quarter than in the first. LG Display, CJ CGV, Samsung Engineering, Coway, SK Hynix, Samsung Electro-Mechanics, and Hanmi Pharmaceuticals forecast that their operating profit would register more than a 100-percent growth in the second quarter compared to a year ago.