Foreigners' Net Selling Rally for 3 Consecutive Weeks This Month... "Domestic Stock Market Expected to Remain Sideways"

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[Asia Economy Reporter Ji Yeon-jin] The selling pressure from foreign investors, who have net sold over 3.5 trillion won this month, has slightly eased.

From the 18th to the 22nd of this month, foreign investors recorded a net sale of 316.1 billion won in the domestic stock market. They net sold approximately 184.4 billion won in the KOSPI market and 131.7 billion won in the KOSDAQ market.

Foreign investors have net sold 3.5704 trillion won since the beginning of the month, maintaining a net selling streak for 11 consecutive trading days from the 5th to the 18th, except for the 5th. However, on the 19th and 20th, they switched to net buying for two consecutive days, showing a slight pause in the selling trend.

Over the five trading days from the 18th, foreign investors net bought SK Telecom worth 73.4 billion won, the largest purchase, followed by POSCO Holdings (58.3 billion won), SK Innovation (55.7 billion won), Cosmo Advanced Materials (49.9 billion won), and Kia (48.3 billion won).

On the other hand, Samsung Electronics was net sold by 410.8 billion won, followed by Pearl Abyss (-91.4 billion won), LG Chem (-44.6 billion won), Chunbo (-43.1 billion won), and Samsung Electronics Preferred Shares (-42.3 billion won).

Lee Hyuk-jin, a researcher at Samsung Securities, said, "For the time being, inflation and interest rate hikes are constants, and the macro environment remains unfavorable. Valuation and technical aspects also maintain solid downward rigidity, so the domestic stock market is likely to move sideways within a narrow range."

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