KOSDAQ-listed Nano Chem Tech was weak early on the 30th. The pullback is seen as investor sentiment souring after the stock was designated an investment alert item by the exchange due to a sharp price rise.
As of 9:28 a.m., Nano Chem Tech was trading at 932 won, down 74 won (7.36%) from the previous session.
Nano Chem Tech, a nano new-materials developer, had been climbing day after day as semiconductor stocks, including Samsung Electronics, showed strength. Nano Chem Tech manufactures semiconductor-related products such as transparent semiconductor packaging materials, grouping it with related component stocks.
Nano Chem Tech's share price jumped 75% over about a month, from 575 won at the end of last month to 1,006 won the previous day. On the 24th, it surged 30% in a single day and even closed at the upper price limit (the top of the daily price band).
In response, the exchange designated Nano Chem Tech as an investment alert item for the day. If the share price continues to rise, it could also be designated an investment warning item.
The exchange also issued a notice to designate Nano Chem Tech as a short-term overheating item. If it becomes a short-term overheating item, only single-price auctions in 30-minute intervals are allowed for three trading days.