Foreigners Switch to 'Buy' in 4 Weeks... KakaoBank Most Purchased

[Image source=Yonhap News]

[Asia Economy Reporter Song Hwajeong] Foreign investors have returned to a buying trend in the domestic stock market after four weeks. They have maintained buying for four consecutive days recently.

According to the Korea Exchange on the 5th, foreign investors net purchased about 2.1634 trillion KRW in the domestic stock market during the week from the 30th of last month to the 3rd of this month. Foreign investors bought 2.1029 trillion KRW in the KOSPI market and 60.4 billion KRW in the KOSDAQ market, respectively.

The stock most purchased by foreign investors last week was KakaoBank. Foreign investors net bought KakaoBank worth 607.3 billion KRW last week. Next, they net purchased Samsung Electronics worth 601.6 billion KRW. In addition, they net bought Naver (365.9 billion KRW), SK Hynix (255.2 billion KRW), SK Bioscience (244.7 billion KRW), Kakao (233.0 billion KRW), POSCO (156.1 billion KRW), Kia (139.1 billion KRW), HL Biopharma (81.9 billion KRW), and Krafton (78.6 billion KRW).

The stock most sold by foreign investors last week was LG Chem. Foreign investors net sold LG Chem worth 494.9 billion KRW last week. They also sold SK Telecom worth 351.2 billion KRW. Other top net sold stocks by foreign investors included NCSoft (208.4 billion KRW), Doosan Heavy Industries & Construction (85.2 billion KRW), Iljin Hysolus (52.3 billion KRW), EcoPro (47.2 billion KRW), SK Chemicals (42.0 billion KRW), LG Innotek (37.7 billion KRW), KMw (30.4 billion KRW), and Kumho Petrochemical (27.7 billion KRW).

As investors continue to take a wait-and-see stance, the index is expected to move within a box range. Kim Younghwan, a researcher at NH Investment & Securities, said, "The KOSPI has reached the early 3200 level, the first rebound target after the correction, but has lost direction again," adding, "The Q2 earnings season has ended, and the major economic indicators at the end and beginning of the month have also been released, leaving the stock market without immediate catalysts." He continued, "Investors will look for hints in the stock market by focusing on more distant events. Until the September Federal Open Market Committee (FOMC) meeting, investors are likely to remain cautious, and the stock market will fluctuate within the current index range without significant deviation."

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