Semiconductor stocks in South Korea's KOSDAQ market increased 88% in the top 100 companies by market capitalization over one year, rising from 17 companies in late July last year to 32 companies this month. This year through the 16th, KOSPI rose while KOSDAQ fell on 32 out of 132 trading days, representing 24% of all trading sessions. The shift reflects a global AI and semiconductor boom that has concentrated capital in large-cap semiconductor stocks like Samsung Electronics and SK Hynix on the KOSPI market, while KOSDAQ's semiconductor equipment companies remain relatively underperforming despite their growing market presence.
Semiconductor Stocks Surge 88% in KOSDAQ Top 100 Over One Year
As of the 14th, 32 stocks in the KOSDAQ market's top 100 by market capitalization belonged to the "semiconductor and related equipment" sector according to FnGuide's industry classification. This represents an 88% increase from 17 companies in late July last year. Bio stocks increased from 10 to 11 companies during the same period, while medical equipment and services remained at 8 companies and pharmaceuticals at 9 companies. Jusung Engineering, which manufactures semiconductor and solar cell production equipment, rose from 42nd place in late July last year to 4th place as of the 16th in KOSDAQ market capitalization.
KOSPI-KOSDAQ Divergence Reaches 24% of Trading Days This Year
This year through the 16th, KOSPI rose while KOSDAQ fell on 32 out of 132 trading days, accounting for 24% of all trading sessions. This proportion is higher than any annual figure since KOSDAQ's launch in 1996. Last year, this divergence occurred on 32 out of 242 trading days, representing 13%. Conversely, days when KOSPI fell while KOSDAQ rose totaled only 11 this year (8% of trading days), down from 27 days (11%) last year. KOSDAQ reached 1,203.84 on April 24, the highest closing level since August 4, 2000, when it closed at 1,238.80. As of the 16th, KOSDAQ closed at 791.84, down 4.53%.
Industry Experts Attribute Divergence to Large-Cap Concentration
An anonymous financial investment industry official stated that "semiconductor equipment stocks move in a similar direction to Samsung Electronics and SK Hynix, which can influence KOSDAQ's synchronization with KOSPI," but added that "as capital flows concentrate in large-cap semiconductor stocks, the KOSDAQ index remains relatively weak." Lee Geon-jae, head of the KOSDAQ Research Center at IBK Investment & Securities, explained that "in the KOSDAQ market, industries with good growth potential occupy the top market capitalization ranks," and noted that "domestic semiconductor materials, parts, and equipment companies have improved their technological capabilities and performance compared to the past." He further observed that "while investors seeking higher returns used to invest in KOSDAQ rather than KOSPI, recently, as KOSPI's volatility has expanded along with larger returns, investors are investing more heavily in KOSPI than KOSDAQ."
FAQ
How many semiconductor stocks are now in KOSDAQ's top 100 by market cap?
As of the 14th, 32 stocks in the KOSDAQ market's top 100 by market capitalization belonged to the semiconductor and related equipment sector, up from 17 companies in late July last year.
What percentage of trading days this year saw KOSPI rise while KOSDAQ fell?
This year through the 16th, KOSPI rose while KOSDAQ fell on 32 out of 132 trading days, representing 24% of all trading sessions, the highest proportion since KOSDAQ's 1996 launch.
What was KOSDAQ's highest closing level in 2024?
KOSDAQ reached 1,203.84 on April 24, the highest closing level since August 4, 2000, when it closed at 1,238.80.
