KOSPI edges up slightly after three sessions; KOSDAQ surges 7% [fn market close]

[Financial News] KOSPI ended slightly higher after three sessions as concerns over U.S. monetary tightening eased.
On the 10th, KOSPI closed at 6,299.66, up 40.89 points, or 0.65%, from the previous session.
Investor sentiment improved after U.S. July employment data came in far below expectations, easing worries about further rate hikes. The New York stock market also closed broadly higher on the 7th local time.
The index opened higher and approached the 6,400 level in early trading, but gains narrowed as foreign investors sold. Individuals and institutions posted net purchases of 899.9 billion won and 567.3 billion won, respectively, while foreigners sold a net 1.4887 trillion won.
Samsung Electronics and SK hynix, which had been strong early in the session, both turned lower. Samsung Electronics fell 0.43%, while SK hynix slipped 0.14%.
Elsewhere, SK Square (1.06%), LG Energy Solution (2.08%), Hyundai Motor Company (3.16%), and Samsung Biologics (0.84%) rose, while Samsung Electro-Mechanics (-0.31%) and KB Financial Group (-2.33%) weakened.
By sector, medical and precision equipment, metals, machinery and equipment, securities, transport equipment and parts, and construction gained ground, while telecommunications, transportation and warehousing, food and tobacco, and leisure and culture declined.
KOSDAQ closed at 854.47, up 55.66 points, or 6.97%, from the previous day.
KOSDAQ surged from the opening bell, and a buy sidecar was triggered around 9:50 a.m. At the time, KOSDAQ futures were up 6.05% from the previous session, while the KOSDAQ 150 Index had risen 6.25%.
This was the third buy sidecar activation in the KOSDAQ market this month, following those on the 3rd and 4th.
Most of the market's top-cap stocks jumped, led by Alteogen Inc. (14.10%), along with EcoPro (8.72%), EcoPro BM (7.29%), Rainbow Robotics (5.16%), Jusung Engineering (13.30%), HLB (9.11%), and LEENO Industrial Inc. (7.61%).
Kim Joo-yeon, a researcher at Mirae Asset Securities, said, "Bio stocks strengthened on rotational buying, led by stocks with company-specific catalysts such as disclosures on new drug development rights, equity holdings, and mergers and acquisitions involving cosmetics firms."

[email protected] Seo Min-ji Reporter