KOSDAQ Down 3.3%, Yet Lunit and Vuno Hit Limit-Up: No Filing Explains It

Basis: Oct 26, 2026, 16:30 KST. Market basis: closing prices (the 1:30 p.m. figures are labeled intraday).

Key points - KOSPI closed at 5,469.47, down 1.46%. KOSDAQ (Korea's tech- and small-cap-heavy market) closed at 727.21, down 3.26%. - Against that, Lunit (+30.00%) and Vuno (+29.95%) closed at the 30% daily limit (상한가), and Contec rose 28.17%. - All three moves are explained by news reports only. There is no business filing tied to the rise in DART (Korea's official disclosure system). - Trading value was 60.6 billion won for Contec, 59.3 billion won for Lunit and 14.2 billion won for Vuno.

Seoul — On a day KOSDAQ fell 3.26%, two medical AI stocks hit the limit-up and the space ground-station company Contec rose more than 28%. Lunit's rise followed news of a collaboration with the U.S. firm Summit Therapeutics, and Contec's followed a string of space-related reports, but neither is confirmed by a company filing on DART. Vuno appears to have ridden the same medical AI theme, with no visible catalyst of its own.

At a glance

Lunit (328130): up 30% on a Summit collaboration report, with no company filing

Lunit closed at the 30% limit-up, up 30.00% at 14,690 won, on news that it will collaborate with Summit Therapeutics, a Nasdaq-listed U.S. biotech. iNews24 reported that the two will work on AI biomarker research for the next-generation immunotherapy ivonescimab, and Electronic Times and Yonhap carried the same story. Yonhap also cited positive assessments from a Korean brokerage. The stock was already at +30.0% at 1:30 p.m. (intraday) and stayed there to the close. That is 33.1% above the Oct 22 close of 11,040 won.

However, Lunit has filed nothing on DART in the past seven days. The reports give no deal value or duration, so it is hard to judge how large the collaboration is against a market capitalization of about 1.09 trillion won. Kiwoom Securities' May 14 report put first-quarter revenue at 24 billion won, up 24.7% from a year earlier, while the company still posts an operating loss. We classify the news as expectation, since nothing yet ties it to earnings.

On overheating, 1 of 4 signals is on. Volume was 9.4 times its 20-day average, the price was 27.4% above its 20-day line, and RSI was 69.0. The stock sits at 44% of its 52-week range, 35.9% below its 52-week high and 0.2% below its 200-day line. It passed 2 of 6 fundamental checks. The order book shows 327,374 shares of buy orders at the limit price and no sell orders. To judge whether the rise holds, watch whether the company details scope and size in a filing or press release, and how that buy queue clears at the next open.

Contec (451760): up 67% in two days on overlapping space news (missed the limit-up, no filing)

Contec rose 28.17% to close at 10,420 won on space-related reports that ran all day. It had also gained 29.87% the previous session (Oct 23), for 66.7% over two days. In the morning, Newsis reported a successful U.S. space optical-communication demo with the stock up 10%, and Money Today reported that the company is seeking Thai public space projects. Wide Economy said a government-business delegation trip and the demo coincided. At midday came news of a successful link with satellites from the fifth Nuri rocket launch, which, per ZDNet Korea, Contec itself announced on the 26th.

None of this is a DART filing. The Thai item is at the 'seeking orders' stage, and the satellite contact is a completed task with no stated revenue. Fundamentals are weak: it is profitable but revenue fell 32.3%, and 60.6 billion won changed hands in a day, equal to 35% of its 172 billion won market cap. At 1:30 p.m. (intraday) it was up 29.89%, just under the limit, but it closed at +28.17%, and its sell queue of 15,555 shares was more than three times the buy queue of 4,748. On Oct 23, foreigners net sold 158 thousand shares and individuals net bought 159 thousand.

Three of four overheating signals are on (strong overheating): volume 23.7 times its 20-day average, 35.7% above the 20-day line, and a 53.9% gain over five days, with RSI at 60.0. The price is still 55.2% below its 52-week high and 23.1% below its 200-day line. It passed 2 of 5 fundamental checks. Watch whether the reported orders such as the Thai project show up as contract filings, and whether trading value stays in the 60 billion won range next day as the sell queue clears.

Vuno (338220): limit-up with medical AI peers (no catalyst of its own confirmed)

Vuno rose 29.95% to 7,680 won and closed at the limit-up, riding a rally across medical AI stocks including Lunit. In the 9 a.m. hour, Pinpoint News ran 'Vuno and Lunit rise together as overseas expansion hopes for medical AI build,' and Maeil Business Market reported Vuno up 11.26% on the medical AI theme. On Sunday, Oct 25, Korea Credit News reported that Abu Dhabi authorities confirmed Vuno's and Seers' AI running on real patients. Vuno was up 24.87% at 1:30 p.m. (intraday) and climbed to the limit by the close. The two-day gain is 27.6%.

There is one DART filing in the past seven days: an officer's report withdrawing a planned securities trade, filed Oct 22 (receipt no. 20261022000280). It is not a business item, and we class it as neutral, so no company announcement explains the rise. Revenue fell 34.0% and the company is loss-making, passing 1 of 6 fundamental checks.

One of four overheating signals is on (caution): volume 11.2 times its 20-day average, 6.5% above the 20-day line, and RSI at a modest 44.9. The price is 72.2% below its 52-week high, at 14% of its 52-week range and 38.4% below its 200-day line. The order book holds 37,877 shares of limit-price buy orders and no sell orders. Since this is a sector move, watch how Lunit trades next day and whether Vuno files a contract of its own.

What happened to the stocks we covered earlier

These are the eight stocks from earlier articles, measured from the close at the time of each article to the Oct 26 close.

Of the five stocks judged 'Report', four fell (DTS, Speco, MS Bio, Hyungji Elite) and only Bigwave Robotics rose, for an average of -9.0%. The two judged 'Filing' split, with SKAI up and Hyein down, averaging -9.6%. Giantstep, judged '???', fell 9.3%. The article dates differ and KOSDAQ fell 3.26% on the day, but stocks confirmed by a filing held up no better.