The KOSDAQ surged 4.48% to close at 894.29 on the 1st, its highest finish since July 1, as semiconductor materials, parts and equipment stocks led a broad rally. The index has risen in 10 of the past 11 sessions since Sept. 15, gaining 10.8% and advancing for five consecutive sessions since Sept. 28. The move outpaced the KOSPI, which gained 1.95% to 6,971.35 and rose 4.3% over the same 11-session period. Analysts attributed the recovery in risk appetite to South Korea's record monthly exports in September, strong semiconductor demand and Micron's better-than-expected results. The Financial Services Commission (South Korea's financial regulator) also announced measures requiring major investment firms to increase research coverage of small- and mid-cap companies, particularly KOSDAQ-listed firms. Analysts said chip-related shares had become more attractively valued after the July correction, while the policy could help revive a market that has historically received less attention than the KOSPI.