Doosan Engine Co Ltd (082740) Plunges -1.67% on Oct 13

October 13, 2017 - By Darrin Black

Shares of Doosan Engine Co Ltd (KRX:082740) last traded at 3835, representing a move of -1.67%, or -65 per share, on volume of 303,441 shares. After opening the trading day at 3910, shares of Doosan Engine Co Ltd traded in a close range. Doosan Engine Co Ltd currently has a total float of 69.50 million shares and on average sees 416,690 shares exchange hands each day. The stock now has a 52-week low of 2980 and high of 4740.

How KOSPI Transforms South Korea Into A Global Leader

One of the leading economies backing the immense growth of the Asian economy is that of South Korea. The country has long been proven itself as a valuable asset in driving growth and maximizing potentials in the long run. It is not easy for companies to get there, but as Doosan Engine Co Ltd shows it is possible. Its rich and healthy equity market is only one of the many proofs of South Korea’s capabilities.

About the KOSPI

The Korea Composite Stock Price Index (KOSPI) is the benchmark, market-capitalization-weighted index in South Korea. Doosan Engine Co Ltd is inside KOSPI register. First published in 1983, it has replaced the Korea Composite Stock Price Index (KCSPI), which was like the Dow Jones Industrial Average (DJIA) of the US equity market.

The KOSPI has a base value of 100 points— the base date being January 4, 1980. It measures companies listed on the Stock Market Division of the Korea Exchange (KRX) based on market capitalization. The KRX is one of the biggest stock exchanges in Asia, boasting with a total market capitalization of $1.20 trillion as of January 2015.

With hundreds of components, the KOSPI had to be divided into several, smaller sub-indices to provide a clearer real-time representation of the South Korean equity market. These sub-indices include the KOSPI 200, which tracks the top 200 companies on the Stock Market Division of the KRX; the KOSPI 100, which tracks the top 100 companies; and the KOSPI 50, which tracks the top 50 companies. Because of its broad nature, the KOSPI 200, which represents about 70% of the total market capitalization on the Stock Market Division of the KRX, shares the same movement with the KOSPI at most times.

Perfect liquidity made it easier for Doosan Engine Co Ltd to get there. A stock needs to be included in the KOSPI 200 before becoming eligible for inclusion in the KOSPI 100. Similarly, it needs to be included in the KOSPI 100 before becoming eligible for inclusion in the KOSPI 50.

KOSPI Performance

The KOSPI had posted its biggest one-day gain of 8.50% or 23.81 points on June 17, 1998. This is largely attributed to the recovery of the Asian economy following the massive financial crisis that had begun in Thailand.

Meanwhile, the KOSPI had posted its biggest one-day decline of 12.02% or 64.97 points on September 12, 2001. This is widely attributed to the bombing of the twin towers in the US on September 11, 2001, a tragedy that had affected the global economy by causing widespread panic among investors.

The KOSPI holds an all-time low of 93.10 points, which was last seen in January 1981; and an all-time high of 2,228.98 points, which was last seen in May 2011. It had first hit the 2,000-point mark on July 24, 2007, a year before the 2008 Global Financial Crisis broke out.

In 2014, Asia had accounted for about 24% of global financial wealth. In five years time from then, the region is anticipated to represent 26% of global financial wealth. Investing in the healthy South Korean equity market is likely healthy for investors. By doing so, they can expect to reap gains from the Asian economy bloom. They can also check the benefits of Doosan Engine Co Ltd.

More notable recent Doosan Engine Co Ltd (KRX:082740) news were published by: Prnewswire.com which released: “Flexible Power Plants Powered by Medium Speed Generators Market – Global …” on October 12, 2017, also Reuters.com with their article: “UPDATE 1-S.Korea Doosan Bobcat says IPO to raise about $790 mln” published on November 07, 2016, Moodys.com published: “Moody’s: Parent’s IPO plan is credit positive for Doosan Infracore International” on February 23, 2016. More interesting news about Doosan Engine Co Ltd (KRX:082740) were released by: Moodys.com and their article: “Moody’s: Doosan Infracore International’s ratings unaffected by parent’s …” published on August 31, 2015 as well as Ft.com‘s news article titled: “Doosan Bobcat cuts size of $2.2bn planned IPO” with publication date: October 10, 2016.

Doosan Engine Co., Ltd is a Korea-based firm principally engaged in the manufacture and distribution of marine diesel engines. The company has market cap of $266.53 billion. The Company’s marine diesel engines include low speed diesel engines for large containerships, bulk carriers, crude oil carriers and other tankers, and medium speed diesel engines for special-purpose vessels and also used as backup generators at nuclear power plants. It currently has negative earnings. It also provides diesel engines for power plants, as well as other engine parts, such as cylinder liners, piston crowns, exhaust valve spindles, exhaust valve housings and others.

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