South Korean stock market capitalization has grown 2.3 percent this year to rank as the world's 14th despite a host of challenges at home and abroad, data showed Monday.

The combined market cap of local firms listed on the main and secondary bourse came to $1.259 trillion at the end of June, up from $1.231 trillion recorded half a year earlier, according to the Korea Exchange.

The increase pushed up South Korea's ranking by one notch to 14th in stock market value.

The global stock market cap fell 1.3 percent to $66.3 trillion during the same period, the World Federation of Exchange said.

The New York Stock Exchange saw its value jump 5.2 percent amid signs of a rebound in the U.S. economy, while many Asian and European stock market caps suffered declines.

The Japan Exchange Group and the Shanghai Stock Exchange shrank 4.26 percent and 16.99 percent, respectively, in the first half of the year. (Yonhap)