On May 22, major stocks on the KOSDAQ surged amid expectations for the National Participation Growth Fund. Strong buying activity, particularly in the secondary battery and pharmaceutical sectors, drove the KOSDAQ's upward trend.
According to the Korea Exchange, EcoProBM, the top stock by market capitalization on the KOSDAQ, closed at 216,000 won, up 21,000 won (10.77%) from the previous trading day. During the session, it peaked at 219,750 won, recovering a market cap of 21 trillion won. EcoPro also saw a significant increase, closing up 12.87% at 146,500 won.
Market analysts suggest that the anticipation surrounding the National Growth Fund has stimulated investment sentiment across the secondary battery sector.
The pharmaceutical and biotech sectors also experienced gains. HLB closed at 50,900 won, up 8.76%, while ABL Bio finished at 120,200 won, a rise of 9.37%. Other top biotech stocks, including Peptron (up 7.32%), Samchundang Pharm (up 4.79%), and Alteogen (up 3.70%), also saw increases.
The positive sentiment in the biotech sector is attributed to expectations surrounding the upcoming American Society of Clinical Oncology (ASCO) abstract releases and inflows of funds into growth stocks.
Semiconductor equipment stocks continued their strong performance as well. Jusung Engineering surged 20.95% to close at 224,000 won, with trading volume exceeding 1.39 trillion won, marking it as the most actively traded stock on the KOSDAQ. IOTech also rose 4.37% to close at 573,000 won, while Rino Technology saw a 2.40% increase.
However, some semiconductor stocks that had recently performed well faced profit-taking, leading to declines. Wonik IPS closed down 2.87% at 121,700 won.
Overall, investor sentiment for technology growth stocks improved. Pado surged 9.94%, and Rainbow Robotics closed up 1.48%.
Kang Jin-hyuk, a researcher at Shinhan Investment Corp, noted, "The National Participation Growth Fund sold out within 30 minutes of its launch, expanding expectations for capital inflows into advanced industries. The rapid improvement in investment sentiment centered on growth stocks has led the KOSDAQ to outperform the KOSPI."
Lee Kyung-min, a researcher at Daishin Securities, commented, "As the semiconductor and robotics sectors take a breather, a rotation centered on the pharmaceutical and biotech sectors continues. The expectations surrounding the National Growth Fund appear to be improving the overall supply and demand in the KOSDAQ market."
* This article has been translated by AI.
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