The KOSDAQ index surged over 6%, attempting to stabilize above the 850-point mark. With both foreign and institutional investors engaging in net buying, major stocks in the biomedical and semiconductor sectors, including Alteogen, showed significant gains, contributing to the upward momentum. The strong early gains prompted the activation of a buying sidecar in the KOSDAQ market.
As of 10:47 a.m. on August 10, the KOSDAQ was trading at 847.99, up 49.18 points (6.16%) from the previous trading day. The index opened at 807.66, up 8.85 points (1.11%), and later peaked at 852.98, surpassing the 850-point threshold.
In terms of investor activity, individuals sold a net 421.4 billion won, while foreign and institutional investors bought a net 168.9 billion won and 258.9 billion won, respectively. The influx of buying from foreign and institutional investors has led to a broad increase in large-cap stocks on the KOSDAQ.
The buying sidecar was activated at 9:50 a.m., marking the 18th instance this year. The KOSDAQ 150 futures rose over 6% compared to the previous day's closing price, and the KOSDAQ 150 index increased by more than 3% for a sustained minute, leading to a five-minute suspension of buy orders in program trading. This year, a total of 31 sidecars have been activated in the KOSDAQ market, including 13 sell sidecars.
Most of the top market capitalization stocks experienced sharp increases. Alteogen led the gains with a rise of 16.23%, while EcoPro (6.05%), EcoPro BM (5.70%), Rainbow Robotics (3.76%), JUSUNG Engineering (10.88%), HLB (7.51%), ABL Bio (9.01%), Rino Industry (4.87%), Wonik IPS (9.85%), and LigaChem Bio (7.33%) also saw significant increases.
Notably, Alteogen's stock price reached 354,500 won, reflecting an increase of over 16%. The surge followed the announcement that BlackRock, the world's largest asset management firm, holds a 5% stake in the company for investment purposes. HLB, LigaChem Bio, D&D Pharmatech, and ABL Bio also showed strong performance due to individual positive news.
Semiconductor equipment stocks, including JUSUNG Engineering and Wonik IPS, also exhibited nearly double-digit increases, supporting the overall index rise.
Meanwhile, the KOSPI index was trading at 6,304.20, up 45.43 points (0.73%) from the previous trading day. The KOSPI opened at 6,306.33, up 47.56 points (0.76%), and reached a high of 6,394.06 during the session before giving back some gains.
Individuals were net buyers of 169.1 billion won, while foreign and institutional investors sold a net 501.2 billion won and 307.8 billion won, respectively.
Stocks such as Samsung Electronics (0.43%), SK Hynix (1.41%), Hyundai Motor (1.90%), and Hanwha Aerospace (5.29%) saw gains, while KB Financial (-3.87%) and Samsung Electro-Mechanics (-0.39%) faced declines.
* This article has been translated by AI.
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