An electronic board at Hana Bank's dealing room in Seoul shows the Kosdaq standing at 1,010.2, gaining 16.27 points, or 1.64 percent, from the previous session, Monday. (Yonhap)
An electronic board at Hana Bank's dealing room in Seoul shows the Kosdaq standing at 1,010.2, gaining 16.27 points, or 1.64 percent, from the previous session, Monday. (Yonhap)

South Korea’s secondary bourse, the Kosdaq, surged past the 1,000-point mark during trading Monday, buoyed by renewed investor optimism and triggering a temporary trading halt designed to curb excessive volatility.

The Kosdaq opened at 1,003.90, up 9.97 points, or 1 percent, from the previous session, according to the Korea Exchange. It marked the first time the index climbed above 1,000 in intraday trading since Jan. 6, 2022, when it touched 1,003.01.

The index extended its gains in early trading, prompting the bourse operator to trigger a buy-side sidecar — a five-minute halt on program trading.

As of 10:20 a.m., the Kosdaq stood at 1,042.76, up 48.83 points, or 4.91 percent, from the previous session.

Foreign investors posted net purchases of 184 billion won ($127 million), while institutions bought a net 739 billion won worth of shares. Retail investors, meanwhile, sold a net 857 billion won.

Market sentiment has improved recently as the government has set a goal of driving the Kosdaq to 3,000 points, following its successful push to lift the Kospi. The policy momentum has raised expectations that the tech-heavy bourse could enter a sustained uptrend.


silverstar@heraldcorp.com