Foreigners Switch to 'Saja' in Just One Week... Naver Most Net Bought

[Asia Economy Reporter Song Hwajeong] Foreign investors have returned to net buying in the domestic stock market after a week.

According to the Korea Exchange on the 24th, foreign investors net bought about 410.8 billion KRW in the domestic stock market during the week from the 18th to the 22nd. They purchased 53.4 billion KRW in the KOSPI market and 357.2 billion KRW in the KOSDAQ market, respectively.

The stock most bought by foreign investors last week was Naver (NAVER). Foreign investors net bought Naver for 363.2 billion KRW last week. This was followed by Samsung SDI, which was purchased for 264.8 billion KRW. Other stocks net bought include SK Chemicals (133.2 billion KRW), Kakao (121.4 billion KRW), NCSoft (113.6 billion KRW), Hanwha Systems (97.4 billion KRW), Green Cross (55.1 billion KRW), Doosan Fuel Cell (53.1 billion KRW), LG Display (50.6 billion KRW), and AmorePacific (45.7 billion KRW).

The stock most sold by foreign investors last week was Samsung Electronics. Foreign investors net sold Samsung Electronics for 565.9 billion KRW last week. This was followed by Kia Motors, which was sold for 386.6 billion KRW. Other stocks in the top net sales by foreign investors include Samsung Electronics Preferred (216.5 billion KRW), Hyundai Mobis (150.1 billion KRW), SK Innovation (138.5 billion KRW), LG Electronics (52.0 billion KRW), Shinpung Pharmaceutical (45.9 billion KRW), DB HiTek (41.9 billion KRW), Lotte Chemical (29.5 billion KRW), and Korea Zinc (20.4 billion KRW).

There is a forecast that foreign investors' buying momentum will gradually recover. Park Seokhyun, a researcher at KTB Investment & Securities, said, "Despite the favorable inflow of global liquidity into emerging markets and strengthened net buying by foreign investors, Korea's price burden has led to continued cautiousness among foreign investors," adding, "Considering that the domestic stock market has a clear comparative advantage in terms of earnings momentum, it is expected to lead to strengthened net buying by foreign investors."