Foreigners Switch 'Palja' in Just One Week... Buying Bio Stocks
[Asia Economy Reporter Song Hwajeong] Foreign investors have returned to net selling in the domestic stock market after a week. They sold more than 5 trillion won over the week.
According to the Korea Exchange on the 31st, foreign investors net sold approximately 5.8782 trillion won in the domestic stock market during the week from the 25th to the 29th. They sold 5.3362 trillion won in the KOSPI market and 542 billion won in the KOSDAQ market, respectively.
The stock most purchased by foreign investors last week was Celltrion. Foreign investors net bought Celltrion by 142.5 billion won last week. Following that, they purchased Samsung Biologics worth 135 billion won. Other net purchases included Netmarble (76.3 billion won), SK Telecom (69.5 billion won), LG Household & Health Care (58.4 billion won), Celltrion Healthcare (48.6 billion won), Kiwoom Securities (48.4 billion won), KMH (38.1 billion won), LG Chem Preferred (32.8 billion won), and Hanmi Pharmaceutical (31.9 billion won).
The stock most sold by foreign investors last week was Samsung Electronics. Foreign investors net sold Samsung Electronics by 1.9322 trillion won last week. They also sold Samsung Electronics Preferred shares worth 434 billion won. Other top net sales by foreign investors included LG Chem (364.3 billion won), Kia Motors (322.5 billion won), Samsung SDI (320.1 billion won), SK Hynix (259.1 billion won), Hyundai Mobis (257.9 billion won), LG Electronics (218.8 billion won), Kakao (117.9 billion won), and DL E&C (95.2 billion won).
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Recent foreign selling is analyzed to be hedge fund capital inflows since last November. Seo Sangyoung, a researcher at Kiwoom Securities, said, "Large-scale net selling by foreign investors is continuing, with selling spreading across most sectors such as electrical and electronics, except for some like chemicals, telecommunications, and steel." He added, "This is presumed to be foreign capital known as hedge funds that rapidly flowed in since last November. In fact, global hedge funds have been selling off not only in Korea but also in most markets this year."
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