The KOSDAQ index broke through the 780 level. Driven by strength in large-cap bio stocks, it is posting a higher gain than the KOSPI. In response, the Korea Exchange (KRX) also imposed a temporary suspension of program buy orders (buy-side sidecar) on the KOSDAQ market.
According to the Korea Exchange on the 23rd, as of 3:08 p.m. the KOSDAQ index was trading at 787.39 points, up 36.30 points (4.83%) from the previous trading day. The KOSDAQ opened at 762.19, up 11.10 points (1.48%) from the prior session, and then expanded its gains, soaring as high as 788.72 points during the session.
The Korea Exchange imposed the KOSDAQ buy-side sidecar measure at 2:27:10 p.m. that day. The buy-side sidecar is triggered when the KOSDAQ 150 futures index rises 6% or more above the previous trading day's close and the KOSDAQ 150 spot index rises 3% or more, with the condition sustained for one minute. The KOSDAQ index was trading at 780 points, up 4.20%. It marks the 14th KOSDAQ buy-side sidecar this year.
Large-cap bio stocks mainly led the KOSDAQ rally. Top stock Alteogen was changing hands at 304,500 won, up 36,500 won (13.62%) from the prior session. Semiconductor stocks such as Jusung Engineering (0.43%), Leeno Industrial (2.51%), Wonik IPS (1.88%), and PSK (0.38%) were also expanding their gains, but the strength of bio stocks such as ABL Bio (6.34%), HLB (5.83%), Samchundang Pharm (10.67%), and Pharma Research (11.94%) was far more pronounced.
