The KOSDAQ index has regained the 800-point mark, bolstered by institutional buying. Following a recent decline that eased valuation pressures, bargain-hunting has emerged, particularly in large-cap stocks in the semiconductor and biotechnology sectors.
As of 11:18 a.m. on July 9, the KOSDAQ index was trading at 803.35, up 18.35 points (2.34%) from the previous trading day.
The KOSPI also continued its upward trend, rising 138.00 points (1.90%) to reach 7384.79.
In the KOSDAQ market, institutions led the index's rise with a net purchase of 223.6 billion won, while individual and foreign investors sold a net 215.3 billion won and 9.9 billion won, respectively.
Most large-cap stocks showed strong performance. Notable gainers included EcoPro BM (up 1.51%), EcoPro (up 3.08%), Rainbow Robotics (up 3.38%), JUSUNG Engineering (up 6.69%), Kolon TissueGene (up 2.76%), HLB (up 7.58%), Rino Technology (up 3.47%), and Wonik IPS (up 3.51%).
In the securities market, individuals sold a net 1.7959 trillion won, while foreign and institutional investors bought a net 331.2 billion won and 1.5077 trillion won, respectively.
Among large-cap stocks, Samsung Electronics (up 2.16%), SK Hynix (up 6.79%), SK Square (up 4.33%), Samsung Electro-Mechanics (up 2.10%), and LG Energy Solution (up 2.54%) also saw gains. In contrast, Hyundai Motor (-2.49%) and Samsung Life (-5.06%) experienced declines.
Analysts noted that the recent drop in stock prices has made valuations more attractive, leading to increased bargain-hunting. Kang Jin-hyuk, a senior researcher at Shinhan Investment Corp, stated, "The KOSPI price-to-earnings ratio (PER) has entered a deep value zone at 6.17 times, lower than the financial crisis low of 6.27 times. Following the sell-off phase, bargain-hunting has emerged, particularly in the semiconductor sector, helping to lift the market out of oversold conditions."
* This article has been translated by AI.
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