The KOSDAQ index fell below the 800 level intraday on Wednesday, dropping back into the 700 range for the first time in about 10 months. Investor sentiment has weakened amid a plunge in U.S. semiconductor stocks and geopolitical risks in the Middle East, with selling pouring in centered on large-cap biotech stocks.
According to the Korea Exchange (KRX), the KOSDAQ index stood at 796.84 as of 11:11 a.m. Wednesday, down 34.39 points, or 4.14%, from the previous trading day.
The index opened at 816.39, down 14.84 points, or 1.79%, before widening its losses and breaking below the 800 level intraday. It was the first time the KOSDAQ had dropped below 800 during trading hours in about 10 months, since September last year.
Most large-cap stocks were trading lower. Alteogen was trading at 314,500 won, down 6.81%. Ecopro BM (-3.49%), Ecopro (-4.15%), Rainbow Robotics (-5.66%), Kolon TissueGene (-6.14%), HLB (-3.09%), Jusung Engineering (-3.36%), Leeno Industrial (-1.67%), Wonik IPS (-8.61%), and ABL Bio (-12.67%) also declined across the board.
