사진 확대
While the KOSDAQ market is trying to improve its constitution by strengthening the criteria for delisting and introducing a promotion system, the performance of the KOSDAQ Global Exchange Traded Fund (ETF), which incorporates stocks based on performance, is drawing attention. As the KOSDAQ Global Index outpaces the KOSDAQ index by 20 percentage points, there is an atmosphere of expectation for the performance of the promotion policy.
According to the Korea Exchange on the 30th, only two major KOSDAQ index ETFs have made positive returns since the beginning of the year until the 28th, KODEX KOSDAQ Global (9.4%) and TIGER KOSDAQ Global (9.0%). ETFs that follow the KOSDAQ 150 Index recorded returns in the -6% range side by side.
The KOSDAQ Global ETF is based on the KOSDAQ Global Index calculated by the Korea Exchange. Currently, it is the only index that reflects performance among major KOSDAQ indexes. Separate requirements apply to bio companies, but usually only stocks with an average operating profit or sales of 300 billion won or more in three business years can be incorporated among companies with a market capitalization of more than 500 billion won. In other words, it is a structure that has filtered out more than 100 stocks that have not passed the performance requirements on the KOSDAQ 150.
While the KOSDAQ index fell -9.4% this year, the KOSDAQ Global Index rose 10% to widen the gap by more than 19 percentage points. Forty-three out of 50 stocks incorporated in the KOSDAQ Global Index belong to this “black” group.
The four stocks (Dongguk Pharmaceutical, Taekwang, Seoul Semiconductor, and Kolmar B&H), which are not in the KOSDAQ 150 index, but only included in the KOSDAQ Global Index, have recently shown an upward trend in both operating profit and stock price. This year, Dongkuk Pharmaceutical and Taekwang saw their stock prices rise to more than 20%, and Seoul Semiconductor rose to 53%.
Yoon Jae-hong, a researcher at Mirae Asset Securities, said, “Large performance stocks in KOSDAQ are relatively defensive this year,” adding, “As the KOSDAQ Global Index, which overlaps with the promotion requirements, has been on the rise this year, expectations are high for policy effects.”
[Reporter Choo Kyung Ah]