KOSPI and KOSDAQ Rise Over 1%... Pado Drops Over 8%

Securities company app, stock trading scene. Photo by Hyunmin Kim kimhyun81@

On the 14th, the Korean stock market opened higher due to simultaneous buying by foreigners and institutions. While the top market capitalization stocks in both major markets showed a steady trend, the battery sector's upward momentum stood out. However, Padu is sharply falling amid news that the Financial Supervisory Service will intervene due to an earnings shock.

As of 9:27 a.m., the KOSPI is at 2,426.84, up 0.96% (23.08 points) from the previous day. The KOSPI opened at 2,424.93, up 0.88% (21.17 points) today, and is expanding its gains to over 1% under favorable supply and demand conditions.

Foreigners and institutions are net buyers of 16.5 billion KRW and 147.2 billion KRW, respectively. In contrast, individual investors are net sellers of 160.1 billion KRW alone. In the futures market, foreigners alone are selling 24.3 billion KRW, while individuals and institutions are buying 43.6 billion KRW and 11.4 billion KRW, respectively.

Among the top 10 stocks by market capitalization, only SK Hynix is flat, while the rest are all rising. Notable increases include Samsung SDI +4.20%, POSCO Holdings +3.98%, and LG Chem +2.65%.

As of 9:31 a.m., the KOSDAQ is trading at 786.84, up 1.60% (12.42 points) from the previous day. The KOSDAQ opened at 779.47, up 0.65% (5.05 points), and is approaching the 790 level. Similar to the KOSPI, foreigners and institutions are net buyers of 59.3 billion KRW and 2.8 billion KRW, respectively. Meanwhile, individuals are net sellers of 58.2 billion KRW.

Among the top 10 stocks by market capitalization, HPSP is down by 0.70%. Noteworthy gainers include Alteogen +6.02%, EcoPro BM +4.63%, L&F +3.50%, JYP Entertainment +2.97%, and EcoPro +2.62%.

Padu, which hit the lower price limit due to an earnings shock, is currently at 17,450 KRW, down 8.35% (1,590 KRW) from the previous day. The sharp decline is interpreted as a reaction to news that the Financial Supervisory Service will review whether the earnings submitted at the time of Padu's listing were appropriate.

Padu, a technology-specialized company that went public last August, recently disclosed that its third-quarter sales fell 97.6% year-on-year to 328.01 million KRW, and its operating loss widened to 14.8 billion KRW. This figure significantly differs from the estimated annual sales of 120.1 billion KRW stated in the securities registration statement submitted at the time of listing. This has intensified controversy over sales inflation at the time of listing, prompting regulatory authorities to step in. The market believes that major customers operating data centers, such as Meta and SpaceX, did not place orders with Padu in the second and third quarters, resulting in Padu's controller sales being recorded as '0.'

This content was produced with the assistance of AI translation services.