The KOSDAQ surged more than 5% in intraday trading on Wednesday, triggering a buy sidecar for the second consecutive trading day.
According to the Korea Exchange, the KOSDAQ index stood at 1,160.51 as of 9:58 a.m., up 54.54 points or 4.93% from the previous session. The index opened at 1,119.43, up 13.46 points or 1.22%, then extended its gains to climb more than 5% at one point. This triggered a buy sidecar for the second straight day, marking the 11th sidecar activation this year.
Most large-cap stocks on the KOSDAQ traded higher. Ecopro BM jumped 10.26% to 215,000 won, while Alteogen and Ecopro rose 7.40% and 14.33%, respectively. Rainbow Robotics (2.02%), Kolon TissueGene (8.54%), Samchundang Pharm (6.06%), and Jusung Engineering (1.57%) also gained ground.
Market analysts expect the launch of retail sales of the National Growth Fund to provide a positive boost to the KOSDAQ market. "Considering the purpose of policy fund supply, KOSDAQ-listed technology growth companies and firms eligible for KOSDAQ venture fund investment are likely to be the targets," said Yeom Dong-chan, an analyst at Korea Investment & Securities. "Among KOSDAQ-listed companies, the pharmaceutical and biotech, IT, robotics, and aerospace sectors, where firms meeting these conditions are concentrated, are expected to benefit."
Meanwhile, the KOSPI, which had surged 8% in the previous session, was taking a breather. As of the same time, the KOSPI index stood at 7,802.28, down 13.31 points or 0.17% from the previous session. After opening slightly higher, the KOSPI quickly turned negative and was barely holding the 7,800 line.
