SEOUL, Foreign investors turned net sellers of South Korean stocks in November in four months by purchasing a net 2.9 trillion won (US$2.3 billion) worth of large-cap stocks, the main bourse said Sunday.
Foreigners bought more than 2 trillion won worth of stocks in Samsung Electronics Co. and 679 billion won shares in SK hynix Inc. last month after selling local stocks in the previous three months, according to the Korea Exchange (KRX).
Foreigners appear to have purchased semiconductor stocks last month on expectations that the chip industry will make a turnaround next year. They are expected to continue to buy local chip stocks this month, analysts said.
But they offloaded some of their stocks in Korean rechargeable battery companies such as Samsung SDI Co. and POSCO Future M amid the slowing pace of electric vehicle sales in global markets.
Source: Yonhap News Agency