Kosdaq Breaks Above 1,200 for First Time, Rises 2.23%

South Korea’s Kosdaq extended its rally on April 24, breaking above the 1,200 mark for the first time.

The index rose 26.14 points, or 2.23%, from the previous session to 1,200.45, setting a record high. It advanced from the opening bell and crossed 1,200 on buying by foreign and institutional investors.

Foreign investors were net buyers of 777.7 billion won, while institutions purchased a net 68.7 billion won. Individuals were net sellers of 831.1 billion won as they took profits.

Most large-cap stocks gained. Alteogen rose 3.92%, Samchundang Pharm climbed 6.71%, and ABL Bio added 3.00%. Other major growth stocks, including Rainbow Robotics and Leeno Industrial, also advanced.

Some secondary-battery shares, however, paused. EcoPro fell 1.27%, while EcoPro BM was little changed.

The market’s advance was driven by sector rotation, with buying spreading to biotech, cosmetics and renewable energy shares.

At the same time, the Kospi touched the 6,500 level intraday before turning lower and fluctuating in the mid-6,400 range. As large semiconductor stocks paused, money flowed into sectors including power and defense.