KOSDAQ Closes Above 1,200 for First Time Since 2000 on Chip Materials, Biotech Rally

[Photo=Yonhap News Agency]

The KOSDAQ index closed above 1,200 on Thursday, its highest level since 2000, lifted by gains in semiconductor materials, parts and equipment shares and biotech stocks. The KOSPI, after setting record highs in recent sessions, traded in a narrow range.

According to the Korea Exchange, the KOSDAQ rose 29.53 points, or 2.51%, to finish at 1203.84. It was the first time the index has closed above 1,200 since Aug. 4, 2000, about 25 years and eight months ago.

The rally was led by chip-related suppliers and biotech names. As large semiconductor stocks paused on profit-taking, buying shifted toward KOSDAQ growth shares, widening the index’s gains.

The KOSPI slipped 0.18 point to 6475.63. It rose as high as 6516.54 early in the session but gave up gains to end near flat. Profit-taking after three straight record closes through Wednesday and geopolitical risks in the Middle East limited the advance.

Analysts said further gains in the KOSDAQ will depend on whether expectations for a recovery in the semiconductor cycle and strength in biotech shares continue.

* This article has been translated by AI.

AJP