Samsung Biologics jumps nearly 10% as pharmaceutical sector leads KOSPI gains [Stock Now]

[Financial News] Pharmaceutical and biotech stocks are gaining in South Korea’s stock market.
The pharmaceutical sector posted the biggest gain among KOSPI sectors, while Samsung Biologics, a leading domestic biotech stock, rose more than 9% and helped drive the sector higher. Analysts say the sector’s relative defensive strength is coming into focus as economic uncertainty grows.
According to the Korea Exchange, as of 2:27 p.m. on the 19th, the KOSPI pharmaceutical sector index was up 5.37% from the previous trading day. Its gain exceeded those of entertainment and culture (3.72%), metals (3.66%) and chemicals (2.74%), making it the biggest gainer among KOSPI sectors.
Gains in individual stocks were also notable. As of 2:27 p.m., Samsung Biologics was trading at 1,422,000 won, up 124,000 won (9.55%) from the previous trading day. It extended its rebound from an intraday low of 1,298,000 won, with strong buying interest evident.
Other pharmaceutical stocks also rose. Yuhan Corporation gained 8.33%, among the strongest performers in the sector, while Yuhan Corporation preferred shares (4.94%), Ildong Holdings (2.71%), Daewoong (1.85%) and Dongsung Pharmaceutical (1.24%) also advanced. Handok, Bukwang Pharmaceutical, Dong Wha Pharmaceutical Co., Ltd. and Yuyu Pharmaceutical joined the uptrend as well.
Analysts are focusing on the defensive nature of the pharmaceutical and biotech sector. Korea Investment & Securities maintained its investment recommendation on the sector at “Overweight” and recommended Samsung Biologics and Celltrion as defensive stocks. The analysis said demand for medicines is relatively insensitive to economic changes, limiting concerns about earnings deterioration even as economic uncertainty grows.
Over the past five trading days, the KRX Healthcare Index rose 0.4%, while the KOSPI fell 11.4%. Global markets have also seen relative strength in healthcare, with the S&P 500 Health Care Index rising 5.9% over the past month. This means the pharmaceutical and biotech sector held up relatively well as the broader market was shaken during the sharp selloff.

[email protected] Kang Jung-mo Reporter