KOSDAQ Surges Nearly 5% on Policy Fund Expectations... Growth Stock Buying Strengthens

On the 22nd, South Korea's KOSDAQ index surged nearly 5% driven by expectations of policy funds and strong buying in growth stocks, while the KOSPI, which had risen sharply the previous day, slowed its ascent. According to the Korea Exchange and Yonhap Infomax, the KOSDAQ index closed up 4.99% at 1,161.13. The index started up 1.22% and quickly accelerated its gains, triggering a buy sidecar (a circuit breaker for program trading) at 9:33:06 AM. In contrast, the KOSPI showed no clear direction throughout the day, closing up 0.41% at 7,847.71.

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