KOSDAQ Falls to 748.22 on July 24, Down 39% in Trading Volume Since Single-Stock Leverage ETF Launch

According to Korea Exchange data, KOSDAQ index closed at 748.22 on July 24, down 5.32% from the previous trading day and marking its lowest level since June 2, 2025. The index had surpassed the 1,200 mark in April but has retreated to 2025 levels within three months.

Analysts attribute the decline primarily to single-stock leverage ETFs launched in late May, which have concentrated trading flows away from KOSDAQ stocks. Average daily trading volume on KOSDAQ fell 39.29% to 8.77 trillion Korean won (May 27–July 24) from 14.44 trillion won (January–May 26), while individual investors net-sold 1.068 trillion won of KOSDAQ stocks since the ETF launch. Negative developments among major biotech and pharmaceutical companies have further eroded investor confidence.