The KOSPI index initially rose more than 2% but later gave up most of its gains as foreign selling intensified. In contrast, the KOSDAQ surged over 5%, buoyed by net buying from both foreign and institutional investors, attempting to settle above the 850 mark. A buying sidecar was triggered in the KOSDAQ market due to the early surge.
According to the Korea Exchange, as of 1:38 PM, the KOSPI was trading at 6,278.45, up 19.68 points (0.31%) from the previous trading day. The index opened 47.56 points (0.76%) higher at 6,306.33 and peaked at 6,394.06 early in the session. However, as foreign selling increased, the index fell below the 6,300 level.
By investor type, individuals and institutions net bought 595.7 billion won and 365.3 billion won, respectively, while foreigners net sold 985.7 billion won, limiting the index's rise.
Among the top market capitalization stocks, the performance was mixed. Samsung Electronics fell 0.54%, Samsung Electro-Mechanics dropped 0.94%, and KB Financial Group declined 2.79%. Conversely, SK Hynix rose 0.04%, SK Square increased by 0.21%, LG Energy Solution gained 0.97%, Hyundai Motor climbed 1.90%, Samsung Biologics was up 0.64%, Hanwha Aerospace surged 5.29%, and HD Hyundai Heavy Industries jumped 6.52%.
At the same time, the KOSDAQ was trading at 845.86, up 47.05 points (5.89%) from the previous day. The index opened at 807.66, up 8.85 points (1.11%), and quickly expanded its gains, reaching as high as 852.98, surpassing the 850 mark.
A buying sidecar was activated in the KOSDAQ market at 9:50 AM. At that time, the KOSDAQ 150 futures were up 6.05% at 1,458.60 points, and the KOSDAQ 150 index recorded a 6.25% increase at 1,453.97. Consequently, the effectiveness of the program trading buy orders was suspended for five minutes.
By investor type, foreigners and institutions net bought 119.1 billion won and 425.9 billion won, respectively, while individuals net sold 539.7 billion won.
Most of the top KOSDAQ stocks saw significant gains. Alteogen surged 12.79%, while EcoPro rose 6.74%, EcoPro BM increased by 5.23%, Rainbow Robotics climbed 3.33%, Juseong Engineering jumped 11.89%, HLB was up 6.97%, Lino Industry gained 5.94%, ABL Bio increased by 8.20%, Wonik IPS rose 9.29%, and Rigakem Bio was up 5.92%.
Notably, the biotech sector showed strong performance. Alteogen continued its upward trend after announcing that BlackRock, the world's largest asset management firm, holds a 5% stake for investment purposes. Major biotech stocks such as HLB, ABL Bio, and Rigakem Bio also attracted buying interest.
Semiconductor-related stocks also performed well, with Juseong Engineering rising over 11%, while Wonik IPS and Lino Industry increased by 9.29% and 5.94%, respectively. Secondary battery stocks like EcoPro and EcoPro BM also contributed to the index's rise with gains of 5% to 6%.
* This article has been translated by AI.
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