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The KOSDAQ index surpassed 1,000 factors on Jan. 26, a return to the 1,000 level vary after 4 years since January 2021. In distinction, the KOSPI closed buying and selling at 4,949.59, down 40.48 factors (0.81%) from the earlier session, failing as soon as once more to settle above 5,000 factors.
Based on the Korea Change on Jan. 26, KOSDAQ closed at 1,064.41, up 70.48 factors (7.09%) from the earlier session.
Primarily based on closing costs, this represents the very best degree in 25 years and 5 months since 1,074.10 factors on Sept. 6, 2000. The intraday excessive (1,064.44) on today additionally marked the very best since 1,088.10 recorded on the identical date. Because of the sharp rise, a buy-side automotive was triggered throughout buying and selling, halting program purchase orders.
The background behind KOSDAQ reaching its highest degree after 9,273 days is interpreted as expectations for the ruling get together and authorities’s KOSDAQ revitalization insurance policies.
Earlier, the Democratic Social gathering KOSPI 5000 Particular Committee met with President Lee Jae Myung to suggest KOSPI 3,000 factors as a brand new goal.
As buyers skilled KOSPI’s sharp rise final 12 months resulting from coverage expectations, expectations for KOSDAQ insurance policies had been mirrored extra quickly.
Moreover, the truth that KOSDAQ had proven comparatively weak efficiency in comparison with KOSPI’s record-high rally can be cited as a bullish issue. The focus in KOSPI large-cap shares has eased, with capital flows transferring towards bio and secondary battery sectors that had led the KOSDAQ neglect.
Lee Kyung-min, a researcher at Daishin Securities, stated, “Whereas KOSPI rose 108% from its low level in April final 12 months, KOSDAQ’s rise was solely about half that degree,” including, “Final week’s gained power as a result of U.S. Federal Reserve Financial institution of New York’s ‘fee test’ additionally acted as an element encouraging rotational shopping for flows.”
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