As KOSPI Slows, KOSDAQ Rallies Strongly, Up More Than 6% [Afternoon Market Update]

[Financial News] While KOSPI (Korea Composite Stock Price Index) has been moving within a range of about 1%, KOSDAQ (Korea Securities Dealers Automated Quotations) is surging more than 6%.
As of 2:07 p.m. on the 10th, KOSPI was trading at 6,296.07, up 37.30 points, or 0.60%, from the previous session.
Foreign investors are limiting the index's gains with a net selling position of 1.2571 trillion won. Individuals and institutions are net buyers, purchasing 745.6 billion won and 493.3 billion won, respectively.
Samsung Electronics and SK hynix, which had been strong earlier, are now trading near flat. Samsung Electronics is down 0.11%, while SK hynix is up 0.07%.
Among other large-cap stocks, SK Square (0.64%), LG Energy Solution (1.11%), Hyundai Motor Company (2.28%), Samsung Biologics (0.71%), and Hanwha Aerospace (5.65%) are posting gains. In contrast, Samsung Electro-Mechanics (-0.70%), KB Financial Group (-2.56%), Samsung C&T Corporation (-0.37%), and Kia (-0.15%) are weaker.
By sector, medical and precision equipment, metals, securities, machinery and equipment, transportation equipment and parts, construction, and real estate are rising. Telecommunications, transportation and warehousing, food and beverages and tobacco, and entertainment and culture are declining.
KOSDAQ is continuing its sharp rally. At the same time, KOSDAQ was trading at 847.83, up 49.02 points, or 6.14%, from the previous close.
Large-cap stocks are rising broadly, led by market leader Alteogen Inc. (12.62%), along with EcoPro (7.56%), EcoPro BM (6.17%), Rainbow Robotics (4.30%), Jusung Engineering (11.97%), HLB Co., Ltd. (7.77%), LEENO Industrial Inc. (6.54%), ABL Bio Inc. (7.27%), and WONIK IPS Co., Ltd. (10.19%).
Kang Jin-hyuk, a researcher at Shinhan Investment & Securities, said, "Although an agreement between the United States and Iran has been delayed, easing concerns over tightening as U.S. employment slows has helped KOSPI rebound."
He added, "KOSDAQ is also extending gains in large-cap stocks, led by biotech," and noted, "After falling 47.1% from its peak, KOSDAQ has rebounded 34.3% from its low."

[email protected] Seo Min-ji Reporter