The KOSPI and KOSDAQ both closed higher, with the KOSDAQ showing significant strength. The KOSPI opened more than 2% higher, approaching the 6,400 mark, but most of its gains were erased as foreign selling intensified. In contrast, the KOSDAQ surged nearly 7% as buying focused on growth stocks, including bio, secondary battery, and semiconductor sectors.
According to the Korea Exchange, the KOSPI finished at 6,299.66, up 40.89 points (0.65%) from the previous trading day. The index started the day at 6,306.33, up 47.56 points (0.76%), and briefly rose to 6,394.06, coming close to the 6,400 mark. However, it later experienced increased volatility, dipping to 6,232.45 at one point in the afternoon.
By investor type, individuals and institutions net bought 900.3 billion won and 566.9 billion won, respectively, while foreigners net sold 1.4887 trillion won.
Among the top market capitalization stocks, Samsung Electronics (-0.43%), SK Hynix (-0.14%), Samsung Electro-Mechanics (-0.31%), and KB Financial (-2.33%) saw declines. Conversely, Samsung Electronics preferred shares (1.12%), SK Square (1.06%), LG Energy Solution (2.08%), Hyundai Motor (3.16%), Samsung Biologics (0.84%), Hanwha Aerospace (5.01%), and Samsung Life (1.81%) all rose.
Notably, a rotation occurred in the industrial sectors, including shipbuilding, defense, and power equipment, easing the concentration of leading stocks. Sanil Electric surged over 16% after announcing record sales for five consecutive quarters on August 7.
The KOSDAQ closed at 854.47, up 55.66 points (6.97%). The index opened at 807.66, up 8.85 points (1.11%), and quickly expanded its gains, reaching as high as 855.38 and settling above 850.
In the KOSDAQ market, individuals net sold 672.9 billion won, while foreigners and institutions net bought 103.1 billion won and 566.1 billion won, respectively.
A buy-side circuit breaker was triggered at 9:50 a.m. in the KOSDAQ market, marking the 31st circuit breaker activation this year, with 18 buy-side and 13 sell-side activations.
All top KOSDAQ stocks showed strong performance. Alteogen surged 14.10%, followed by EcoPro (8.72%), EcoPro BM (7.29%), Rainbow Robotics (5.16%), JUSUNG Engineering (13.30%), HLB (9.12%), Rino Technology (7.61%), ABL Bio (8.08%), Wonik IPS (11.44%), and LigaChem Bio (5.92%), all rising significantly.
Bio stocks showed strength due to individual positive news. Alteogen's shares soared after it disclosed that BlackRock, the world's largest asset manager, holds a 5% stake for investment purposes. HLB, LigaChem Bio, and ABL Bio also rose, contributing to the KOSDAQ index's increase.
Buying pressure also flowed into secondary battery and semiconductor equipment stocks. Following SK Hynix's announcement of investment plans for its Yongin Phase 2 fab and Cheongju M17 production facility after the market closed on August 7, expectations for related equipment stocks increased.
Lim Jeong-eun, a researcher at KB Securities, stated, "With Alteogen leading the way, bio, secondary battery, and robotics sectors have collectively driven the KOSDAQ's rise, with the proportion of rising KOSDAQ stocks reaching 79%, reversing the KOSPI figures after three trading days. While the KOSPI's top two market cap stocks have stalled, industrial sectors like shipbuilding, defense, and power equipment continue to rise, indicating a sustained easing of leading stock concentration."
She added, "Attention should be paid to the upcoming U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) reports for July, as they may sustain expectations for interest rate freezes. The earnings of tech stocks like Applied Materials are expected to be a key variable influencing semiconductor stock prices."
Meanwhile, in the Seoul foreign exchange market, the weekly closing exchange rate for the won against the dollar was recorded at 1,418.4 won, up 2.3 won from the previous day.
* This article has been translated by AI.
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