Foreigners, 'Palja' for 2 Consecutive Weeks... Selling LG Chem and Buying AmorePacific
[Asia Economy Reporter Song Hwajeong] Foreign investors continued their selling streak in the domestic stock market for the second consecutive week. The scale of sales increased to the 1 trillion won level.
According to the Korea Exchange on the 16th, foreign investors net sold approximately 1.0829 trillion won in the domestic stock market during the week from the 10th to the 14th. They sold 948.4 billion won in the KOSPI market and 134.5 billion won in the KOSDAQ market, respectively.
The stock most purchased by foreign investors last week was AmorePacific. Foreign investors net bought AmorePacific worth 103.3 billion won last week. This was followed by Celltrion, which they bought for 96.9 billion won. Other net purchases included KB Financial Group (89.4 billion won), Samsung Biologics (70.8 billion won), LG Electronics (56.6 billion won), Seegene (54.2 billion won), LG Household & Health Care (54.1 billion won), Shinhan Financial Group (47.5 billion won), Korea Zinc (42.9 billion won), and KT (32.2 billion won).
The stock most sold by foreign investors last week was LG Chem. Foreign investors net sold LG Chem worth 469.8 billion won last week. This was followed by Samsung SDI, which they sold for 372 billion won. Other top net sales included Hyundai Motor (346.2 billion won), SK Hynix (132.4 billion won), Naver (NAVER, 114.3 billion won), Hyundai Mobis (87.1 billion won), Kakao (78.6 billion won), Samsung Electronics (70.6 billion won), Soulbrain (45.7 billion won), and Samsung Life Insurance (45.5 billion won).
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The momentum-driven market led by individual investors is expected to continue. Kim Younghwan, a researcher at NH Investment & Securities, said, "In the absence of a trigger to change the market direction, the momentum market led by individual investors will continue," adding, "In the short term, the upward trend in stock prices will persist." Kim also cautioned, "However, it is necessary to be careful as the buying strength of individuals in the stock market has been gradually weakening recently," and added, "It is necessary to gradually reduce weights within growth stocks, leaving only the core ones."
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