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[Alpha Biz=(Chicago) Reporter Paul Lee] Foreign investors continue their largest net buying streak in the stock market this year. Korea's leading companies such as Samsung Electronics and Hyundai Motor have swept more than 16 trillion won in electric and automobile stocks.
According to the Korea Exchange on the 29th, foreigners bought a net 12.3674 trillion won worth of stocks in the stock market this year. Foreigners' net purchases are the largest since 1998, when the exchange compiled statistics.
Foreigners' net purchase of electric and transportation equipment reached 16.4462 trillion won, more than the entire securities market. In addition, they sold steel, metal, medical precision, chemicals, and telecommunications while buying finance and insurance. Net buying of electrical and electronics was overwhelming at KRW 12.9662 trillion. Net purchase of Samsung Electronics alone reached 9.78 trillion won. Hyundai Motor (1.2611 trillion won), SK Hynix (1.175 trillion won), Samsung SDI (967.3 billion won), and Kia (546.9 billion won) also bought a lot.
Foreigners expect Korea's leading semiconductor and auto stocks to bottom out and idolize based on improved performance. Samsung Electronics closed at 70,300 won on the 26th, recovering 70,000 won for the first time in four months, while SK Hynix rose to 110,000 won in the market for the first time in more than a year. Hyundai Motor Co. and Kia Motors Co. set new highs side by side, with their best-ever performance in the first quarter.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
