KOSDAQ Rally: How Far Can It Rise? 'Stocks That Could Soar' / What Will Happen to Plunged Alteogen and ABL Bio? | Director Lee Young-hoon

Summary

Lee Young-hoon of iM Securities and host Hwang Yu-hyeon review the January KOSDAQ surge, which was driven largely by individual money flowing into KODEX KOSDAQ150 ETFs rather than fundamentals. Lee warns that a purely money-driven rally is unlikely to continue indefinitely and highlights pension guidelines that may narrow eligible KOSDAQ names to analyst-covered stocks. The discussion then turns to KOSDAQ biotech: Alteogen's royalty-rate disappointment and ABL Bio's clinical-delay concerns, with flows rotating toward LigaChem Biosciences and Sam Chun Dang Pharm while the broader bio sector needs to stabilize.

• KOSDAQ surged sharply in January with heavy ETF inflows.
• Flows appear to come from individual investors buying KODEX KOSDAQ150 ETF.
• Lee says the rally is more money-driven than valuation-driven.
• Pension guidelines may compress eligible KOSDAQ names to analyst-covered stocks.
• Alteogen fell on a lower-than-expected royalty rate.
• ABL Bio faces Sanofi trial-delay concerns.
• Bio ETF flows rotated toward LigaChem Biosciences and Sam Chun Dang Pharm.
• Broader KOSDAQ bio sector needs sentiment stabilization before leading.