Lithium-ion battery makers replace biotech firms on Kosdaq¡¯s top rankings

Lithium-ion battery makers in limelight for their great growth potential on the back of active state-private joint efforts to create an EV ecosystem have replaced biotech firms as leading large-cap stocks on the Kosdaq market after the biotech and pharmaceutical industry has lost momentum since last year.

According to the Korea Exchange on Tuesday, biotech and healthcare firms on the list of Kosdaq¡¯s top 20 large-cap stocks were reduced to five from eight a year ago, while four battery making and related firms joined the list, two more than a year ago. Biotech names such as Genexine, Hugel, and ST Pharm were pushed out of the top 20 rankings, while lithium-ion battery makers, such as Cheonbo and EcoPro BM, climbed the ladder on the list.

EcoPro BM climbed to the top from fifth in a year, making a triple jump in market value from 3.78 trillion won ($2.99 billion) to 10.96 trillion won. In contrast, Celltrion Healthcare stepped down from No. 1 to settle in the third place, with its market cap halved from 17.56 trillion won to 9.10 trillion won.

Celltrion Healthcare used to be at the top on the Kosdaq market for four straight years after its parent Celltrion moved to the Kospi market. However, it has been on the declining track since early last year, yielding its top position to EcoPro BM at the beginning of the year. It reclaimed No. 1 position later but withdrew to the second place on April 6.

On the other hand, EcoPro BM, leading producer of advanced materials that are mostly EV battery materials such as cathode materials, has ascended to the top, helped by its upbeat results in the first quarter, rapidly recovering from the earlier stock rout due to a fire at its Ochang plant and insider trading allegation. L&F, another battery materials maker, rose to the second position on the Kosdaq as it signed a contract to supply materials to Tesla.

Game shares also has rapidly lost stream, with Pearl Abyss down from third to sixth and Kakao Games from fourth to fifth.

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