KOSPI Hits Another All-Time Intraday High
KOSDAQ Sets New Yearly Record
Samsung Electronics Reaches 52-Week High, Firmly Above 80,000 Won
Alteogen Achieves All-Time High, Surpasses 500,000 Won
The KOSPI has reached an all-time high, while the KOSDAQ has set a new yearly record, driven by significant gains in the leading stocks of each market.
According to the Korea Exchange on September 23, the KOSPI closed at 3,468.65, up 23.41 points (0.68%) from the previous day. During the session, it climbed as high as 3,482.25, setting a new all-time high. The KOSDAQ finished at 874.36, up 11.25 points (1.30%), marking a new yearly high.
The strong performance of market-leading stocks played a key role in driving these record-setting indices. On this day, Samsung Electronics closed at 83,500 won, up 4.77%, firmly settling into the 80,000 won range. During trading, it reached 84,000 won, marking a new 52-week high. Alteogen closed at 507,000 won, up 7.30%. It soared to 529,000 won during the session, breaking its all-time high.
Samsung Electronics, the leading stock in the main board, accounts for 17.31% of the KOSPI, while Alteogen, the leading stock in the KOSDAQ, makes up 5.88% of the index.
This month, foreign investors made net purchases of Samsung Electronics totaling 4.0892 trillion won, making it their top pick, and institutional investors also bought a net 1.9321 trillion won, again the highest among all stocks.
It appears that positive outlooks are continuously attracting large-scale buying from major investors. Morgan Stanley recently raised its outlook for the memory industry overall in a report. The firm maintained its 'Top Pick' rating on Samsung Electronics and raised its target price from 86,000 won to 96,000 won.
Expectations for high-bandwidth memory (HBM) supply are also rising. Kim Dongwon, a researcher at KB Securities, explained, "Recently, Samsung Electronics reportedly received purchase orders from Nvidia after passing quality tests for its HBM3E 12-layer product. This achievement comes 18 months after Samsung Electronics completed development of the HBM3E 12-layer in February 2024, made possible by performance improvements through the redesign of fourth-generation (1a) DRAM." He added, "For the HBM4 that will be installed in Nvidia's 'Rubin' in 2026, Samsung Electronics is expected to secure a competitive advantage over its rivals, and in particular, Samsung Electronics is likely to be a direct beneficiary of Nvidia's HBM4 performance upgrade."
Alteogen's share price surge was driven by news of product approval from the U.S. Food and Drug Administration (FDA). On September 21, Alteogen announced that the subcutaneous (SC) formulation of Merck (MSD)'s immuno-oncology drug, Keytruda Qurex, which utilizes Alteogen's technology, had received FDA approval. The Verahyaluronidase alpha (ALT-B4) applied to Keytruda Qurex is a product developed and manufactured by Alteogen, which uses human hyaluronidase to convert intravenous (IV) biologics into SC formulations. If sales of Keytruda Qurex become active, Alteogen is expected to generate more than 1 trillion won in annual royalty income.
Following this FDA approval, new contracts are also expected. Kim Seona, a researcher at Hana Securities, said, "This FDA approval seems to have brought new technology transfer agreements closer," and added, "Obtaining approval in the U.S. and European markets will help prospective new partners gain confidence as they approach contract signings."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
