The KOSDAQ index soared nearly 3% on October 6, closing in on the 920 mark, buoyed by strong buying from foreign and institutional investors. This surge occurred while large semiconductor stocks took a breather, leading to a rotation into sectors such as semiconductor materials and parts, secondary batteries, and biotechnology.
According to the Korea Exchange, the KOSDAQ index finished at 919.92, up 26.63 points (2.98%) from the previous trading day. Foreign and institutional investors purchased a net 109.4 billion won and 100.2 billion won, respectively, while individual investors sold a net 207.3 billion won.
Most of the top market capitalization stocks also showed strong performance. JUSUNG Engineering surged 17.51%, while HLB jumped 17.18%. Other gainers included EcoProBM (11.41%), EcoPro (7.31%), Simtech (4.67%), Rainbow Robotics (3.67%), Rino Technology (3.08%), EO Technics (2.26%), and Wonik IPS (2.24%).
Notably, the strength of secondary battery and semiconductor materials stocks was pronounced. News of a memorandum of understanding between Samsung SDI and EcoProBM for the development of materials for solid-state batteries boosted investor sentiment in the secondary battery sector. Anticipation of growth in the artificial intelligence (AI) industry also attracted buying interest in semiconductor materials stocks, including JUSUNG Engineering. HLB's stock surged following news of the completion of a factory inspection by the U.S. Food and Drug Administration (FDA).
In contrast, the KOSPI index fell due to foreign selling pressure. The KOSPI closed at 6,941.39, down 62.35 points (0.89%) from the previous day. Foreign investors sold a net 1.75 trillion won, while institutions also showed a selling bias of 2 billion won. Individual investors purchased a net 740.6 billion won. While Samsung Electronics (-1.45%), SK Hynix (-3.69%), and Samsung Biologics (-3.25%) declined, Samsung Electro-Mechanics (5.95%) and LG Energy Solution (5.12%) performed well.
Lee Kyung-min, a researcher at Daishin Securities, noted, "The KOSDAQ showed clear strength thanks to simultaneous net buying by foreign and institutional investors. As large semiconductor stocks took a break, semiconductor materials, secondary batteries, and pharmaceuticals and biotechnology drove the index higher." He added that for the KOSPI, despite positive news during the holiday period, macroeconomic concerns continued to lead to foreign capital outflows. He indicated that the upcoming preliminary earnings announcement from Samsung Electronics on October 8 would be a key factor in determining the future direction of the KOSPI index.
* This article has been translated by AI.
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