Billionaires’ stock value hits all-time high

Billionaires’ stock value hits all-time high

The total market value of shares held by the top 100 stock-rich people in Korea surpassed the 100 trillion-won ($849.25 billion) mark for the first time last week, according to market researcher Chaebul.com

The data showed that the billionaires held 103. 83 trillion won worth of stocks as of Dec. 30, accounting for 8.3 percent of the total market capitalization.

The stock value of the top 100 has been risen steadily over the past several years, to 74 trillion won in 2013 and 92.6 trillion won in 2014, according to the data.

Market analysts said their stock wealth increased last year mainly thanks to a rise in stock prices of cosmetics and bio firms.

Source:http://www.koreaherald.com/view.php?ud=20160103000231

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