On the day the KOSPI index hit a new all-time high, the KOSDAQ index remained in place. While individual funds, seemingly taking profits from large-cap stocks, appeared to flow in, selling by foreigners and the simultaneous decline of major bio stocks became a burden. Ultimately, the market closed with a slight gain, failing to surpass its 52-week high and leaving investors disappointed. That day, the KOSDAQ market showed strong upward momentum early in the session, buoyed by strong earnings from secondary battery leaders like EcoPro and EcoPro BM. However, the upward trend weakened as the afternoon progressed, and the index fluctuated repeatedly, ultimately failing to break through the 1,190 level. The bio sector, concentrated among the top market cap stocks, is cited as the main culprit dragging the market down. Sharp declines in stocks like Voronoi and Kolon TissueGene dampened the overall market sentiment. Securities experts point to several reasons for the weakness in bio stocks. They analyze that a combination of factors is at play: uncertainty over interest rates due to sustained high oil prices has dampened investor appetite for growth stocks, and trust in the industry overall has declined following recent disclosure controversies involving pharmaceutical companies. The case of a specific pharmaceutical stock, which once rose to become KOSDAQ's top company by market cap before plummeting, further hardened investor psychology. Another obstacle is the flow of foreign capital. While foreign investors recorded massive net buying in the KOSPI that day, they showed net selling in the KOSDAQ. This demonstrates that the current market flow is centered on large caps favored by foreigners, leading to forecasts that it will still take time for KOSDAQ to take the lead. Some observers predict that a full-fledged rebound for KOSDAQ can only begin once the rise of KOSPI large caps stabilizes. However, some point out that even within the shadows, there are sectors showing light. These are the small and medium-sized companies in semiconductor materials, parts, and equipment (collectively referred to as 'Sobujang') and solid-performing secondary battery-related stocks. The strong performance of large semiconductor companies is expected to drive interest across the entire related supply chain, and expectations for electric vehicle market growth are forecast to continuously support the secondary battery industry. Experts cautiously predict, "Once the leading stocks finish catching their breath, these performance-driven themes will become the core force leading the KOSDAQ index."