Same Rally, Different Reasons: Winpac Has Earnings, Cosmo Robotics Has a Rebuttal, Samchundang Has Nothing on File
We checked three KOSDAQ movers against official filings and news. One had a clear catalyst, one had a rebuttal reported only in the press, and one had nothing at all.
Seoul — South Korea's two main boards split on Wednesday morning. The KOSDAQ, the country's tech- and small-cap-heavy market, rose 2.38% to 876.26. The benchmark KOSPI fell 0.24% to 6,821.46, its fourth straight decline, as the U.S. 10-year Treasury yield climbed to 5.29% and foreign investors sold large caps. Micron's strong quarterly results overnight were not enough to lift Samsung Electronics or SK hynix.
Three KOSDAQ names gained more than 15% in early trading. We checked each move against company filings on DART, Korea's official disclosure system, and recent news. The reasons behind them turned out to be very different.
Winpac (097800): up more than 60% in two days
Winpac traded at ₩3,775 (about $2.76), up 24.38%. Including Tuesday's limit-up close, when it hit Korea's 30% daily cap, the stock has climbed more than 60% from ₩2,335 in two sessions. It is nearly double its Sept. 1 price of ₩1,991.
The catalyst is clear. Winpac tests memory chips, and Micron's results lifted earnings expectations across Korea's high-bandwidth memory (HBM) supply chain. Foreign investors have been net buyers for five straight sessions. Still, after a two-day move of this size, much of the ₩20.7 billion (about $15 million) traded that morning was likely short-term money.
Cosmo Robotics (439960): a bounce, not a recovery
Cosmo Robotics rose 19.55% to ₩8,990 (about $6.56). The three-day picture is different. The stock closed at ₩10,740 on Sept. 29, then fell by the 30% daily limit to ₩7,520 on Sept. 30 after allegations that the company had inflated its revenue. Even after the rebound, it is 15% below its pre-allegation price.
The rebound followed media reports that the company had rebutted the allegations. As of the morning, however, no related filing appeared on DART. The rebuttal existed only in news reports.
Samchundang Pharm (000250): three days up, no explanation found
Samchundang Pharm traded at ₩200,000 (about $146), up 15.74%. It has risen three sessions in a row, gaining nearly 25% from ₩162,500 on Sept. 28. Over that period the company made no filings on DART. The only related items were automated exchange notices, such as a widening of the price limit on its single-stock futures.
USD figures use ₩1,370 per dollar.