KOSDAQ Surpasses 1,000 for First Time in Four Years: "This Time Is Different" (Comprehensive)

KOSDAQ Surpasses 1,040... Highest Level Since November 2021
Rising Expectations for Policy Benefits
Individual Investors Go on a Bio Stock Shopping Spree
Game Stocks Disappear from Top Market Cap Rankings
Bio, Secondary Battery Stocks Take the

On the 26th, the KOSPI index opened at 4997.54, up 7.47 points from the previous trading day, as dealers were working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. On the same day, the KOSDAQ surpassed the 1000 mark for the first time in four years, and the USD/KRW exchange rate started trading at 1446.1 won, down 19.7 won from the previous trading day. Photo by Kang Jinhyung, 2026.1.26

The KOSDAQ index has surpassed the 1,000-point mark for the first time in over four years since January 2022. Unlike the sharp rallies driven by liquidity and theme stocks during the COVID-19 era, this recent rise is being attributed to improved corporate earnings and fundamental changes in the market.

On January 26, the KOSDAQ index opened at 1,003.90, up 1.00% from the previous trading day. This is the first time the KOSDAQ has crossed 1,000 points since January 5, 2022, when it closed at 1,009.62. The index continued to climb, reaching 1,042.14 at around 10:16 a.m., marking the highest level since the intraday record of 1,045.36 on November 23, 2021.

Individual Investors Flock Amid Policy Support

Market observers note that policy support and industry transformation have led to a fundamentally different 'Chunsdaq' compared to the past. After the Democratic Party's KOSPI 5000 Special Committee proposed to President Lee Jaemyung on January 22 that the KOSDAQ 3,000 mark could be achieved through digital assets, buying momentum increased. In addition, initiatives such as the 'National Growth Fund', aimed at boosting investment in venture companies and venture capital, have further raised expectations for KOSDAQ-listed companies to benefit.

By sector, the KOSDAQ index was driven by rotational buying focused on secondary battery and biotech stocks, while blue-chip semiconductor and automobile stocks on the KOSPI took a temporary pause. Samsung Securities analyzed, "As funds have shifted from large-cap stocks, which outperformed earlier this year, to mid- and small-cap stocks, the KOSDAQ, which had lagged behind the KOSPI, recorded a strong increase. In particular, KOSDAQ biotech stocks, which had recently seen significant declines, rebounded sharply."

Individual and institutional investors are primarily fueling the positive sentiment in the KOSDAQ market. From the beginning of January through the 23rd, individual investors made net purchases of 874 billion won in the KOSDAQ market. Institutions also bought a net 134 billion won. In contrast, foreign investors sold a net 389 billion won during the same period.

The stocks most heavily bought by individuals were mainly in the biotech sector. The most purchased stock this month was Alteogen, a leading biotech company, with a total net purchase of 684.9 billion won. Next was ABL Bio, with net purchases totaling 148 billion won. The combined net purchases of these two stocks account for 95% of all individual net buying in the KOSDAQ market.

Top Market Cap Rankings Shift: Biotech, Secondary Batteries, and Robotics Rise

The composition of the top 10 KOSDAQ stocks by market capitalization has also changed compared to the past. As of January 4, 2022, the previous peak, companies such as L&F, Celltrion Healthcare, and Celltrion Pharm have moved to the KOSPI market. Kakao Games, Pearl Abyss, Wemade, Seegene, and Chunbo have all fallen out of the top 10. Only Ecopro BM and HLB remain among the top 10.

The vacancies have been filled by biotech stocks such as Alteogen, ABL Bio, and LegoChem Biosciences, as well as Samchundang Pharm. Other new entrants include Leeno Industrial, a semiconductor test equipment company; Rainbow Robotics, a robotics-related stock; and Ecopro, the holding company of the Ecopro Group.

All of the current top 10 KOSDAQ stocks by market capitalization are showing strong upward momentum. As of 10:08 a.m. on this day, Rainbow Robotics had surged by 23.0%. Other double-digit gainers included ABL Bio (15.6%), Ecopro (12.8%), and Ecopro BM (10.0%). This was followed by Ecopro BM (9.9%), LegoChem Biosciences (9.2%), Samchundang Pharm (6.6%), Leeno Industrial (6.1%), Peptron (5.9%), and HLB (5.4%).

Looking ahead, there are projections that if government policies to revitalize the KOSDAQ market become more concrete, the upward trend in stock prices could accelerate. Kim Dooun, a research analyst at Hana Securities, stated, "With major global interest rate events approaching, policies to boost the KOSDAQ are coming back into focus. Investors should pay attention to the KOSDAQ index, which is highly sensitive to interest rates."