South Korea's Kosdaq Star equity index is down 7.6% in March, which is a decent sized drop by any measure however there are 5 other equity indexes that have performed worse this month.
So why did we choose the Kosdaq Star index for today's topic? Why makes this move notable is that the Star index is sitting right at the 2011 lows and there are very few equity indexes on the planet that can say that right now. And lest you think that this index is composed of high beta stocks, here's the description courtesy of Bloomberg:
The KOSDAQ Star index is a free-float weighted index of top 30 companies in terms of financial stability, liquidity, market capitalization and etc.
If we look at the comparison chart of the South Korean major equity indexes alongside GDP growth, we see a large disconnect between the Kosdaq Star Index and many of the other indexes. It appears as if the small and mid caps are outperforming the large caps by a fairly wide margin.
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