The stock price of secondary battery material company EcoPro BM has continued to decline, allowing bio platform company Alteogen to rise to the top spot in market capitalization on the KOSDAQ market. This is interpreted as a result of expectations for interest rate cuts leading to improved investment sentiment in the bio sector.
On the 27th, Alteogen closed trading at 315,000 KRW, up 0.8% from the previous day. During the session, it rose as high as 331,500 KRW, setting a new all-time high. Since the beginning of this year, Alteogen's stock price has increased by 219.8%. During the same period, the KOSDAQ index fell by 11.7%. Alteogen's market capitalization surged to 16.7418 trillion KRW.
EcoPro BM, which had been the number one in market capitalization on the KOSDAQ market until the previous day, has fallen 40.9% this year. Its market capitalization shrank to 16.636 trillion KRW. The difference in market capitalization between the first and second place is only 105.8 billion KRW.
Following them, companies ranked in the top 10 by market capitalization on the KOSDAQ market include EcoPro, HLB, Enchem, Samchundang Pharm, Rigachem Bio, Hugel, Classys, and Celltrion Pharm, with the majority belonging to the secondary battery and bio sectors.
Since the beginning of this year, companies such as Alteogen, HLB, Samchundang Pharm, Rigachem Bio, and Hugel have expanded their size and entered the upper ranks of market capitalization.
Lee Seon-kyung, a researcher at SK Securities, said, "To predict the strength of the bio sector's rise at a time when interest rate cuts are anticipated, it is necessary to assess the performance of the pharmaceutical and bio sectors," adding, "In a situation where the technological achievements of domestic companies are highlighted, expectations toward companies with new drug development momentum can play a significant role in the rise of the pharmaceutical and bio sectors."
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