SK hynix Inc., South Korea's second-largest chipmaker, has been the most bought share among foreign investors this year, market data showed Friday.
Overseas investors bought a net 682.4 billion won (US$632.4 million) worth of the chipmaker's shares through Wednesday, said Korea Exchange (KRX), the country's bourse operator. This was followed by 470 billion won worth of POSCO shares, with OCI Co., LG Display and Hyundai Motor Co. making the top five list in January and February.
Retail investors during the same period bought over 2.77 trillion won worth of stocks in Samsung Electronics Co. more than they sold, followed by Celltrion Inc., Kakao, Sansung SDI and Korea Electric Power Corp. (KEPCO).
With the exception of KEPCO, the five companies that retail investors bought the most early this year, coincided with stock holdings that were heavily sold by foreigners.
Overseas investors shed 2.5 trillion won worth of Samsung Electronics shares.
Cho Yong-Jun, head of the research center at Hana Financial Investment Co., said shares being bought by foreign investors are those that have not risen in the past or have already undergone corrections recently, raising the possibility they may rise in the future.
"This kind of purchasing move is allowing retail investors to offload their shares in companies like SK hynix to lock in gains," he said.
KRX, meanwhile, said that up till this week, foreign and retail investors net bought 321.3 billion won and 871.4 billion won worth of shares, while institutional investors sold 2.08 trillion won in their stock holdings. (Yonhap)
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