Key Points
- Combined sales of the two stocks made up 73 percent of total foreign net selling of Korean stocks
- Over 12 sessions since May 7, foreign net selling totaled 46.34 trillion won, with 82.9 percent from SK hynix and Samsung
- Other heavily sold stocks included Hyundai Mobis, Hyundai Motor, LG Electronics, and Samsung Electro-Mechanics
Seoul, May 25. Foreign investors sold more than 10 trillion won ($6.6 billion) worth of shares in Samsung Electronics and SK hynix last week while extending their net-selling streak in the South Korean stock market to 12 trading sessions, data showed on Monday.
Foreigners offloaded a net 5.33 trillion won worth of SK hynix shares and 5.26 trillion won worth of Samsung Electronics shares during the week beginning May 18, according to the data from the Korea Exchange and Yonhap Infomax.
Combined net sales of the two market bellwethers accounted for 73 percent of foreigners' total net selling of Korean stocks, which came to 14.45 trillion won over the cited period.
The selling trend has continued over the past 12 trading sessions since May 7, when foreign investors turned net sellers.
Foreign Selling Dominates Korean Stock Market
During the 12-session period, foreigners sold a net 19.53 trillion won worth of SK hynix shares and 18.87 trillion won worth of Samsung Electronics shares, accounting for 82.9 percent of their total net selling of 46.34 trillion won.
Last week, Hyundai Mobis Co., Hyundai Motor Co., LG Electronics Inc. and Samsung Electro-Mechanics Co. were also among the most heavily sold stocks by foreign investors.
In contrast, offshore investors increased purchases of robotics and energy storage system (ESS) stocks.
Top Stocks Hit by Foreign Investor Exodus
Foreigners bought a net 370 billion won worth of Doosan Robotics Inc. shares and 148.9 billion won worth of Samsung SDI Co. shares on the benchmark Korea Composite Stock Price Index (KOSPI) last week.
On the secondary Korea Securities Dealers Automated Quotations (KOSDAQ) market, foreigners purchased a net 1.29 trillion won worth of shares last week, including 155.6 billion won in Fadu Inc., a fabless company specialising in storage systems for artificial intelligence (AI) data centres, and 128 billion won in Seojin System Co., an ESS and telecom equipment maker.
The shift came amid strong growth expectations for the global robotics and ESS markets driven by demand related to physical AI and AI data centres.
Analysts said the recent foreign selloff appears to reflect portfolio rebalancing following sharp gains in semiconductor shares, with funds moving into sectors viewed as having greater upside potential.
"Foreign investors may have responded with selling as the share of Korean semiconductor stocks in their portfolios increased sharply due to steep price gains," said Kang Jin-hyuk, an analyst at Shinhan Securities. "They appear to have shifted funds to other stocks where earnings are improving but share prices remain relatively low."
—IANS
na/
