Foreigners, 'Palja' for 9 Consecutive Weeks... Samsung Electronics Bought

[Asia Economy Reporter Song Hwajeong] Foreign investors have continued a 'selling' trend in the domestic stock market for nine consecutive weeks. While maintaining their selling pressure and consistently ranking Samsung Electronics as the top net sold stock, foreign investors last week purchased Samsung Electronics the most in a while.

According to the Korea Exchange on the 12th, foreign investors net sold about 1.114 trillion KRW in the domestic stock market during the week from the 6th to the 10th. They sold 767 billion KRW in the KOSPI market and 347 billion KRW in the KOSDAQ market, respectively.

The stock that foreign investors bought the most last week was Samsung Electronics. Foreign investors net purchased Samsung Electronics by 233.6 billion KRW last week. Following that, they bought Samsung Biologics for 123.3 billion KRW. Additionally, they net purchased LG Chem (54.8 billion KRW), Celltrion (40 billion KRW), SK Hynix (35.5 billion KRW), Studio Dragon (23.4 billion KRW), NCSoft (22.9 billion KRW), Samsung Electronics Preferred (19.2 billion KRW), Pearl Abyss (14.7 billion KRW), and Komipharm (8.6 billion KRW).

The stock that foreign investors sold the most last week was Celltrion Healthcare. Foreign investors net sold Celltrion Healthcare by 273.7 billion KRW last week. Next, they sold Hyundai Motor for 60.6 billion KRW. Other stocks in the top net sold by foreign investors included KT&G (57.7 billion KRW), NAVER (56.5 billion KRW), Hyundai Mobis (47.1 billion KRW), Kangwon Land (45.1 billion KRW), Kia Motors (41.9 billion KRW), Kakao (38.7 billion KRW), LG Electronics (37.7 billion KRW), and KB Financial Group (32.5 billion KRW).

The stock market is expected to show a temporary pause. Kim Byung-yeon, a researcher at NH Investment & Securities, said, "The 1850-point level, which is the 50% retracement of the decline, is a temporary pause zone," adding, "Concerns about a slow credit crunch easing, the resumption of movement in Wuhan, and Ramadan mean that anxiety and caution about the re-spread of the novel coronavirus infection (COVID-19) remain."

A stock-specific market is expected for the time being. Researcher Kim said, "However, expectations are high due to the execution of the stock market stabilization fund, discussions on the fourth U.S. fiscal policy, and whether OPEC+ (the Organization of the Petroleum Exporting Countries and an alliance of 10 major oil-producing countries) will agree on production cuts. Therefore, even if adjustments occur, the early 1700 level, which is the 33% retracement of the decline, will act as a support level," adding, "Since there is an impact from the downward revision of the Q2 and annual estimates following Samsung Electronics' earnings guidance announcement, a stock-specific market that fluctuates according to the increase or decrease in COVID-19 cases in the U.S. and Europe is expected for the time being."

This content was produced with the assistance of AI translation services.