Foreign Investors Pour 1 Trillion Won into KOSPI Market over 3 Trading Days
[Asia Economy Reporter Oh Ju-yeon] Foreign investors have returned. In the KOSPI market, where funds had drained like a receding tide due to the novel coronavirus infection (Wuhan pneumonia), foreign investors poured in 1 trillion KRW over three trading days.
According to the Korea Exchange on the 7th, since the Chinese stock market plunged 8%, foreign investors have consecutively net purchased 1.104 trillion KRW worth of securities in the KOSPI market over three trading days (from the 4th to the 6th). On this day as well, despite the KOSPI declining, foreign investors continued net buying for the fourth consecutive trading day.
As of 10:48 AM, the KOSPI recorded 2,211.75, down 0.73% from the previous trading day, but foreign investors net purchased 48.3 billion KRW worth, bringing their total purchases to 1.5 trillion KRW so far.
Over the past three trading days, foreign investors' net buying focused on large-cap stocks centered on semiconductors. Samsung Electronics (503.6 billion KRW) and SK Hynix (117.8 billion KRW) accounted for more than half of the total. Purchases also concentrated on the electric vehicle-related sector, with LG Chem (179.4 billion KRW) and Samsung SDI (81.9 billion KRW) ranking second and fifth respectively in net purchases. During this period, Samsung Electronics, which had fallen to the 50,000 KRW range, rose back to the 60,000 KRW range, and SK Hynix recovered to the 100,000 KRW range. Samsung SDI also hit a 52-week high.
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Accordingly, there is analysis suggesting that foreign investors may be ending their sell-off offensive and starting to buy at the bottom. Kim Yong-gu, a researcher at Hana Financial Investment, said, "Looking at foreign investors' KOSPI 200 spot supply and demand, they had net purchased 6.4 trillion KRW in the fourth quarter of last year, but have been continuously selling since the beginning of the year, leaving about 617.5 billion KRW now," adding, "The profit balance is completely empty."
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