Foreign Investors Buy Samsung Electronics Again, Net Buyers of Korean Stocks for 2 Consecutive Weeks

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] Foreign investors have continued to make modest net purchases of domestic stocks for two consecutive weeks this month. Despite the won-dollar exchange rate soaring above 1300 won and the continued weakness of the Korean won, concerns over a global economic recession have prevented foreign investors from engaging in aggressive buying.

According to the Korea Exchange on the 17th, foreign investors recorded net purchases worth 102.1 billion won in the domestic stock market from the 11th to the 15th. They made net purchases of 495.2 billion won in the KOSPI market, while net selling amounted to 393 billion won in the KOSDAQ market.

The stock most heavily net purchased by foreigners during this period was Samsung Electronics (531.6 billion won). This was followed by SK Hynix (162.2 billion won), LG Energy Solution (80.4 billion won), SK Telecom (58.4 billion won), and Hyundai Motor Company (57.1 billion won). Due to this buying trend by foreign investors, Samsung Electronics recovered to the 60,000 won level for the first time in about a month.

On the other hand, NAVER was the most sold stock (-64.9 billion won), followed by SK Bioscience (-56 billion won), HMM (-42.5 billion won), Samsung Electronics Preferred Shares (-32.3 billion won), and Ildong Pharmaceutical (-31.5 billion won).

Shin Seung-jin, a researcher at Samsung Securities, explained, "As the euro and yen continue to weaken, the value of the dollar keeps rising, accelerating the depreciation of the Korean won. Although it is a time when the price attractiveness of the Korean market should be highlighted, the macro environment remains uncertain. Our stock market has relatively held up due to a rebound in the IT sector, but it is true that a sustained rebound is difficult during a strong dollar phase."

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