Foreign investors sold a net 14.5 trillion won (US$9.54 billion) of South Korean stocks in the week that began on May 18, extending their net-selling streak to 12 trading sessions.

Samsung Electronics and SK hynix accounted for 73% of the total, data showed on May 25.

They sold a net 5.3 trillion won (US$3.52 billion) of SK hynix shares and 5.3 trillion won (US$3.47 billion) of Samsung Electronics shares during the week.

Over the 12-session period since May 7, foreign investors sold a net 46.3 trillion won (US$30.6 billion) of South Korean stocks.

This includes 19.5 trillion won (US$12.9 billion) of SK hynix shares and 18.9 trillion won (US$12.5 billion) of Samsung Electronics shares.

The concentration also reflected market structure. Samsung Electronics and SK hynix made up nearly 40% of the KOSPI’s market capitalization after an extended rally in chip shares.

Analysts said the selloff appeared to reflect portfolio rebalancing rather than a deterioration in semiconductor fundamentals.

Foreign investors instead increased buying of robotics and energy storage system stocks, including Doosan Robotics and Samsung SDI, according to the original source.

🔗 Source: Yonhap

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