[Edaily Reporter Hyera Lee ] The KOSPI and KOSDAQ markets opened higher. Shortly after the opening bell, the KOSPI is trading sideways while searching for direction, while the KOSDAQ index is extending its losses in negative territory.

According to MP Doctor, as of 9:22 a.m. today, the KOSPI is trading at 6,509.51, down 6.48 points (0.10%) from the previous trading day.
The index opened at 6,553.88, up 0.58%, early in the session. Since the opening, the KOSPI has been fluctuating between gains and losses as it searches for direction.
By investor type, both foreign investors and institutions are net sellers. Foreign investors have shifted to a net selling position after just one day. Institutions, led by financial investment firms and pension funds, are offloading nearly 302.9 billion won worth of shares. Retail investors alone are net buyers, purchasing around 382.3 billion won worth of shares. On the stock market, retail investors have been buying for three consecutive days. Institutions, however, have been net sellers for five consecutive trading days.
Program trading shows a net sell position of 24.1 billion won, combining arbitrage and non-arbitrage trades.
Top-market-cap stocks are seeing steep declines in early trading.
Among the top 14 stocks by market capitalization, those showing gains include SamsungElectronics(005930), SK hynix(000660), and SAMSUNG BIOLOGICS(207940).
Overnight on the New York Stock Exchange, semiconductor and artificial intelligence (AI)-related stocks reversed their recent declines and closed higher. Today, SamsungElectronics and SK hynix(000660)showed mixed trends but are currently rising in tandem. SamsungElectronics is trading at 245,000 won, up 2.05%, while SK hynix is up 0.40%.
SAMSUNG BIOLOGICS is up by about 1% following news that it decided yesterday to acquire Poly Peptide, a Swiss peptide contract development and manufacturing organization (CDMO), for 2.7 trillion won, marking its full-scale entry into the global obesity treatment CDMO market. Securities analysts note that while there may be short-term pressure on profitability due to the funding required for the acquisition, the move is viewed positively as it secures growth potential in the medium to long term.
By stock, 125 are up, 742 are down, and 26 are unchanged as of this writing.
At the same time, the KOSDAQ index is trading at 732.84 points, down 16.89 points (2.25%) from the previous trading day.
The KOSDAQ, which opened slightly higher, has—like the KOSPI—slipped into negative territory shortly after the opening bell and is extending its losses.
In the KOSDAQ market, retail investors are net buyers of 34.4 billion won. In contrast, foreign investors are net sellers of 31.8 billion won, while institutional investors are testing the waters.
Most of the top-market-cap stocks on the KOSDAQ are also generally declining.
Among the top 14 stocks by market capitalization, all but four— PSK INC.(319660), HLB INC.(028300), SIMMTECH Co., Ltd.(222800), and FADU INC.—are showing a downward trend.
Among these, SAM CHUN DANG PHARM CO. LTD(000250)is down by around 17% compared to the previous trading day. SAM CHUN DANG PHARM CO. LTD closed at the daily price limit the previous day. SAM CHUN DANG PHARM CO. LTD announced yesterday that it had received a Pre-ANDA response from the U.S. Food and Drug Administration (FDA), which is a consultation process preceding the submission of an Abbreviated New Drug Application (ANDA) for an oral semaglutide generic. This response is a document sent by the FDA after officially reviewing the company’s development strategy and does not imply approval. Pre-ANDA is a system through which the FDA consults in advance on development strategies, reference drugs, and bioequivalence test plans prior to the submission of a generic drug application.
On the KOSDAQ market, 280 stocks rose, 1,379 fell, and 62 remained unchanged.
Across both markets, sectors such as household goods, semiconductors and semiconductor equipment, department stores and general retail, and transportation infrastructure are showing strength, while stationery, biotechnology, healthcare companies, and life science instruments are weak.
Han Ji-young, an analyst at KIWOOM Securities, stated, “With the KOSPI 200 Volatility Index (VKOSPI) still exceeding 80 points, it is highly likely that this period of high volatility will continue,” adding, “The high market capitalization weight of major semiconductor stocks such as SamsungElectronics and SK hynix, along with the concentration of leveraged trading on individual stocks, are factors amplifying market volatility.”
However, she advised that investors should also keep an eye on the potential for an upward trend. “The KOSPI’s 12-month forward price-to-earnings ratio (PER) is below 6x, placing it in a historically undervalued range, and the upward trend in earnings estimates is continuing,” Han said. “Therefore, it is necessary to pay attention to the possibility of upward volatility at this time.”