Foreigners, 'Palja' for 2 Consecutive Weeks... Selling KOSPI and Buying KOSDAQ
[Asia Economy Reporter Song Hwajeong] Foreign investors recorded net sales in the domestic stock market for two consecutive weeks.
According to the Korea Exchange on the 13th, foreign investors net sold approximately 2.1932 trillion KRW in the domestic stock market during the week from the 7th to the 11th. They sold 2.2742 trillion KRW in the KOSPI market, while purchasing 81.2 billion KRW in the KOSDAQ market.
The stock most purchased by foreign investors last week was SK Innovation. Foreign investors net bought SK Innovation by 97.1 billion KRW last week. This was followed by LG Electronics with purchases worth 70.3 billion KRW. Other net purchases included Samsung SDI (67.2 billion KRW), Amorepacific (61.0 billion KRW), Korea Electric Power Corporation (44.8 billion KRW), Shinhan Financial Group (41.4 billion KRW), Samsung Electro-Mechanics (34.9 billion KRW), LG Household & Health Care (33.0 billion KRW), CJ CheilJedang (31.9 billion KRW), and Celltrion Pharm (30.0 billion KRW).
The stock most sold by foreign investors last week was Samsung Electronics. Foreign investors net sold Samsung Electronics by 1.007 trillion KRW last week. This was followed by Samsung Electronics Preferred shares with sales of 408.8 billion KRW. Other top net sales included SK Hynix (395.5 billion KRW), Kakao (238.6 billion KRW), Celltrion (169.6 billion KRW), Celltrion Healthcare (157.5 billion KRW), Hyundai Motor Company (148.5 billion KRW), LG Chem (137.8 billion KRW), Samsung Biologics (74.1 billion KRW), and Myungshin Industrial (49.4 billion KRW).
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The selling trend by foreign investors is interpreted as a tempo adjustment. Bang Inseong, a researcher at Cape Investment & Securities, said, "Since the second week of December, foreign investors' buying momentum has weakened, raising concerns that the foreign investors' net buying streak might end," adding, "However, both active and passive foreign investors are currently in the process of increasing their weighting in the Korean stock market, and as they are exposed to price burdens, it is judged that they are adjusting their buying intensity as a tempo control."
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