KOSDAQ Plummets... Falls Below 900 to Hit Yearly Low (Update)
KOSDAQ Turns Negative with a 3.6% Decline This Year
Along with the KOSPI, the KOSDAQ market also plummeted, with the index closing below the 900 mark for the first time this year.
On June 23, the KOSDAQ closed at 891.55, down 7.94% from the previous trading day.
So far this year, the KOSDAQ index has dropped by 3.6%, showing a significant gap compared to the KOSPI's 94.6% increase.
The government is preparing a variety of institutional measures to revive the KOSDAQ market, such as delisting underperforming companies, strengthening disclosure requirements, and introducing active KOSDAQ exchange-traded funds (ETFs). However, these measures have not been enough to prevent the index from falling.
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Some analysts point out that the KOSDAQ market, which is centered on bio stocks, is underperforming even more this year due to the growing concentration in the semiconductor sector, particularly in SK hynix and Samsung Electronics.
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