On the 21st, the KOSPI index turned upward during the trading session due to a significant buying spree by foreign investors and closed higher. Samsung Electronics and SK hynix, both large-cap stocks in the semiconductor sector, led the market's rise.
In contrast, the KOSDAQ index fell due to the HLB shock. News that a new liver cancer drug did not receive approval from the U.S. Food and Drug Administration (FDA) caused shares of HLB Group to plunge, leading the KOSDAQ index to drop below the 720 level.
That day, the KOSPI index finished at 2643.13, up 6.03 points (0.23%) from the previous trading day. The index, which had dipped to 2617.78 early in trading, reversed its decline due to foreign investors' net buying of 847.7 billion won. It was the first time in about a month that the KOSPI index surpassed the 2640 level since Feb. 26 (closing at 2641.09).
On that day, foreign investors alone net bought securities valued at 847.7 billion won in the market. Individuals and institutions sold off 540 billion won and 397.3 billion won, respectively.
Overnight, Micron Technology, referred to as the 'semiconductor barometer,' presented guidance that exceeded market expectations, leading shares of the domestic semiconductor leaders SK hynix (up 2.62%) and Samsung Electronics (up 2.49%) to show strength. Other companies such as Hyundai Motor (up 1.23%), Naver (up 0.72%), and Celltrion (up 0.21%) also saw gains.
Hanwha Aerospace announced a capital increase of 3.6 trillion won after the market closed the previous day, causing its shares to plummet by more than 13% on that day. Shares of Hanwha (-12.11%), Hanwha System (-6.19%), and Hanwha Ocean (-2.27%) also fell consecutively.
The KOSDAQ index closed at 719.41, down 5.74 points (0.79%) from the previous trading day. On that day, individuals net sold 161.7 billion won in the KOSDAQ market, while institutions and foreigners net bought 117 billion won and 51 billion won, respectively.
The stocks dragging down the KOSDAQ index were the HLB Group shares. Despite HLB's renewed attempt for FDA approval of its developing liver cancer drug, it faced another request for 'supplementation.'
The company stated that it would address the FDA's concerns and submit supplemental documents in May, but on that day, HLB, HLB Life Science, and HLB PAHRMA all closed at their daily price limit. Additionally, HLB bioStep (-15.54%), HLB Innovation (-14.71%), HLB Therapeutics (-7.37%), and others also faced steep declines.
In the KOSDAQ market's top stocks, Rainbow Robotics (-4.30%), Alteogen (-0.80%), and ECOPRO BM (-0.80%) experienced weakness, while Sam Chun Dang Pharm (up 7.64%), Kolon TissueGene (up 6.88%), LigaChem Biosciences (up 1.72%), and Ecopro (up 1.16%) saw increases.
Lee Jae-won, a researcher at Shinhan Investment Corporation, noted, 'Foreigners have shown consistent net buying of spot for five consecutive transactions and futures for six consecutive transactions in the KOSPI.' He added that Alaska's governor is scheduled to visit Korea on the 25th, and there is a momentum related to liquefied natural gas (LNG) project stocks that needs to be observed.
Meanwhile, as of 3:30 p.m. that day, the exchange rate of the won to the U.S. dollar recorded 1462.7 won, up 3.8 won from the previous trading day.