Foreign investors’ net buying on KOSDAQ 2.5 trillion won, with biotech and semiconductors gaining
Foreign investors 2.5 trillion won in net purchases on KOSDAQ. During the same period, some biotech stocks surged amid expectations for clinical trial results and regulatory approvals, as well as news of expansions at active pharmaceutical ingredient plants.
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Foreign investors 2.5 trillion won in net purchases on KOSDAQ. Buying was concentrated in the semiconductor, robotics, and biotech sectors. Trading caused prices of major KOSDAQ stocks to fluctuate.
Active pharmaceutical ingredient companies are seeing the effects of plant expansions. Since expanding their plants, they have received more orders and increased production. The companies said the rise in orders had led to improved quarterly earnings.
D&D Pharmatech’s shares rose 14% on expectations for clinical results to be presented at the European Association for the Study of the Liver congress. The company said it plans to disclose additional clinical data. Investor interest translated into trading volume.
After the ASCO abstract release, GI Innovation’s share price 23% higher. The company said in its presentation that its immuno-oncology drug had an objective response rate (ORR) of 40%. The figure was presented as one indicator of clinical performance.
Korean-American biotech company Ingenia Therapeutics received approval for its preliminary listing review. The company disclosed that it would prepare for the next stage of its listing in accordance with the process. News of the approval was reflected in investor sentiment.
These developments coincided with an apparent inflow of investment funds into the biotech sector. Buying interest in semiconductor and robotics-related stocks was also observed. Trading flows appeared differentiated by sector.