Foreigners, 'Palja' for 2 Consecutive Weeks... Selling Samsung Electronics and Buying LG Chem

[Asia Economy Reporter Song Hwajeong] Foreign investors continued their selling trend in the domestic stock market for two consecutive weeks.

According to the Korea Exchange on the 4th, foreign investors net sold about 106.6 billion KRW in the domestic stock market during the week from the 28th to the 29th of last month. They sold 129.1 billion KRW in the KOSPI market and 22.3 billion KRW in the KOSDAQ market, respectively.

The stock most purchased by foreign investors last week was LG Chem. Foreign investors net bought LG Chem for 118.2 billion KRW last week. This was followed by SK Hynix, which they bought for 95.6 billion KRW. Other net purchases included Hyundai Motor (51.7 billion KRW), NCSoft (18.8 billion KRW), Shinpung Pharmaceutical (17.5 billion KRW), LG Chem Preferred (17.4 billion KRW), Hotel Shilla (15.7 billion KRW), Cosmax (12.5 billion KRW), Seegene (10.9 billion KRW), and Korea Electric Power Corporation (9.6 billion KRW).

The stock most sold by foreign investors last week was Samsung Electronics. Foreign investors net sold Samsung Electronics for 175.2 billion KRW last week. This was followed by Hanwha Solutions, which they sold for 51.5 billion KRW. Other top net sales included Celltrion (41.5 billion KRW), Celltrion Healthcare (40.7 billion KRW), Samsung Electronics Preferred (39.2 billion KRW), Hyundai Mobis (31.3 billion KRW), Kia Motors (25.7 billion KRW), KB Financial Group (23.8 billion KRW), Kakao (23.3 billion KRW), and Doosan Fuel Cell (19.6 billion KRW).

The stock market is expected to show a sideways trend after the holiday. Kim Yonggu, a researcher at Samsung Securities, analyzed, "In October, the KOSPI will fluctuate sideways between 2250 points and 2400 points," adding, "The expansion of global political uncertainties related to the U.S. presidential election and the deepening cracks in Nasdaq tech stocks will act as disruptive factors for both domestic and international stock markets." Researcher Kim added, "Triggers for a reversal include agreements on additional stimulus measures within the U.S. Congress and a cooling down of G2 (the U.S. and China) trade friction risks due to the resumption of trade negotiations. However, considering the unpredictable current presidential election situation, the possibility of a smooth resolution of related political uncertainties is minimal."