Foreigners, 5 Consecutive Weeks of 'Palja'... Net Selling of 5 Trillion Won Last Week Alone

[Asia Economy Reporter Song Hwajeong] Foreign investors continue a record-breaking selling spree. They sold off more than 5 trillion won in the domestic stock market in just the past week.

According to the Korea Exchange on the 15th, foreign investors net sold about 5.0845 trillion won in the domestic stock market during the week from the 9th to the 13th. They sold 5.044 trillion won in the KOSPI market and 40.5 billion won in the KOSDAQ market, respectively.

The stock most purchased by foreign investors last week was Hanjin Kal. Foreign investors net bought 46.6 billion won worth of Hanjin Kal last week. Foreign investors have held Hanjin Kal as their top purchase for three consecutive weeks. Next, they bought Celltrion Healthcare worth 39.7 billion won. Other net purchases included KT&G (23.3 billion won), EcoPro BM (22.3 billion won), HL Biopharma (16.0 billion won), Fila Holdings (15.9 billion won), Mezzion (15.7 billion won), DPC (13.1 billion won), Alteogen (12.8 billion won), and Samsung C&T (12.5 billion won).

The stock most sold by foreign investors last week was Samsung Electronics. Foreign investors net sold Samsung Electronics worth 2.4739 trillion won last week. Following that, they sold SK Hynix worth 447.5 billion won. Other top net sales by foreign investors included Hyundai Motor (270.6 billion won), Samsung Electronics Preferred Shares (211.7 billion won), LG Chem (174.1 billion won), Samsung SDI (170.4 billion won), SK Innovation (105.0 billion won), NAVER (76.7 billion won), NCSoft (75.8 billion won), and Seegene (60.3 billion won).

The market is expected to continue experiencing high volatility. Yu Seungmin, a researcher at Samsung Securities, analyzed, "During periods when accommodative monetary policies are implemented and government policy series are announced, risk assets will attempt to recover from excessive declines. However, since major advanced countries are expected to see a sharp increase in COVID-19 cases for the time being, concerns about this will hinder the trend recovery of risk assets." Researcher Yu added, "Therefore, although the global stock market has entered an oversold level, it will take some time for a full recovery, and a high volatility phase will continue."