Foreigners Hold 'Palja' for 5 Consecutive Weeks... Holding the Most of Douzone Bizon
[Asia Economy Reporter Song Hwajeong] Foreign investors continued their selling streak in the domestic stock market for five consecutive weeks.
According to the Korea Exchange on the 23rd, foreign investors net sold approximately 1.6291 trillion KRW in the domestic stock market during the week from the 17th to the 21st. This shows a somewhat subdued selling trend compared to the previous week's selling of over 6 trillion KRW. Foreign investors sold 1.5984 trillion KRW in the KOSPI market and 30.6 billion KRW in the KOSDAQ market, respectively.
The stock most purchased by foreign investors last week was The Zone Bizon. Foreign investors net bought The Zone Bizon by 113.2 billion KRW last week. Following that, they net bought Kakao by 94.7 billion KRW. Other net purchases included JYP Ent. (43.8 billion KRW), LG Chem (38.7 billion KRW), SK Telecom (34.3 billion KRW), HYBE (33.6 billion KRW), SM (33.3 billion KRW), Green Cross (30.6 billion KRW), LG Uplus (26.9 billion KRW), and Samsung Engineering (25.7 billion KRW).
The stock most sold by foreign investors last week was Samsung Electronics. Foreign investors net sold Samsung Electronics by 837.7 billion KRW last week. They also sold Samsung Electronics Preferred shares by 134.9 billion KRW. Other top net sales included Samsung Electro-Mechanics (101.6 billion KRW), Korea Electric Power Corporation (77.7 billion KRW), Samsung Biologics (72.5 billion KRW), POSCO (70.6 billion KRW), LG Display (70.0 billion KRW), SK Innovation (69.0 billion KRW), Hyundai Motor (48.1 billion KRW), and SK Hynix (42.2 billion KRW).
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A shift to buying by foreign investors does not seem likely in the near term. Kim Hoojeong, a researcher at Yuanta Securities, stated, "Although the burden of global pension funds selling stock assets has likely eased considerably after several months of reducing their stock asset ratios, growing inflation concerns are acting as a risk factor for emerging market assets," adding, "For these reasons, foreign investors are expected to remain lukewarm toward the domestic stock market for the time being."
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