KOSDAQ foreign investors 2.5trillion won in 'buying' sends KOSDAQ 5% surge; buy-sidecar triggered
2026year 5month 22day, foreign investors bought 2.5trillion won worth of KOSDAQ shares, sending the index up 5% and triggering a buy-sidecar. During the same period, the KOSPI was strong on buying by individual and institutional investors, while KONEX’s role as a launchpad for biotech listings is wavering as lead managers turn away.
2026year 5month 22day, KOSDAQ rose sharply. With net buying by foreign investors concentrated in the market, the index rose as much as 5% and a buy-sidecar was triggered. On the same day, the KOSPI showed strength, bolstered by buying from individual and institutional investors. The index movement was heavily influenced by the day’s supply and demand.
Foreign investors were the main force behind market supply and demand. They were reported to have made net purchases on KOSDAQ worth 2.5trillion won. Their buying was concentrated in semiconductor, robotics, and biotech-related stocks. A concentration of buying was observed in these sectors.
Trading restriction mechanisms were activated as KOSDAQ surged. A buy-sidecar was triggered as limit-up trading repeatedly occurred in some stocks. The sidecar placed restrictions on buy orders for certain stocks. An automatic restriction measure under market operating rules was applied.
Meanwhile, underwriters are becoming less involved in the KONEX market. There have been concerns that, as underwriters turn away, KONEX is finding it difficult to serve as an initial listing route for biotech companies—in other words, to act as a catalyst. This is affecting biotech companies that still plan to list on KONEX. The listing schedules and methods of the companies concerned may change.
Ingenia Therapeutics, a US biotech company with Korean ties, has received approval for its preliminary listing review. The company disclosed that it had passed the review as it prepared for a US listing. Approval moves the listing process to the next stage. The company plans to finalize its listing schedule in line with subsequent practical arrangements.
Market participants are wary of increased volatility. Some reports this week raised the possibility of the KOSPI re-entering the8,000 level. At the same time, voices of caution over high volatility emerged. Investors should pay attention to short-term price volatility.