The KOSDAQ index is up in the 2% range on the 12th. Strength in pharmaceutical and biotech corporations and buying by foreigners and institutions are leading the session.

The KOSDAQ index is displayed on the status board in the dealing room at Hana Bank's headquarters in Euljiro, Seoul, on the 12th. The KOSDAQ opens at 890.99, up 6.72 points (0.76%) from the previous trading day. /Courtesy of Yonhap News

As of 2:57 p.m. that day, the KOSDAQ index was up 2.20% (19.41 points) from the previous trading day at 903.60.

Foreigners and institutions are leading the rise in the index. Foreigners and institutions are net buyers of 169.7 billion won and 94.2 billion won, respectively, while individuals alone are net sellers of 256.5 billion won.

In the KOSDAQ market, pharmaceutical and biotech corporations are showing strength. In particular, ABL Bio disclosed that it signed a technology transfer agreement with global drugmaker Eli Lilly that day, boosting investor sentiment in KOSDAQ. ABL Bio jumped 29.95% (29,200 won) from the previous trading day to hit the upper limit.

According to the filing, ABL Bio signed a technology transfer agreement with Eli Lilly for the GrabBody-B platform. The deal is valued at about 3.8072 trillion won, with an upfront payment of about 58.528 billion won.

In addition, Alteogen, EcoPro BM, Peptron, HLB, LigaChem Biosciences, and Sam Chun Dang Pharm are on the rise.

At the same time, the KOSPI index was up 0.82% (33.63 points) from the previous trading day at 4,140.02.

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