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Home > mk Business News 프린트 이메일 전송 리스트
Foreign investors make largest net selling of $8.7 bn since 2008
2013.07.08 11:18:38 | 2013.07.08 16:33:21
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Foreign investors made a record-high net selling in the South Korean stock market in the first half (H1) this year since the financial crisis in 2008.

[Foreign investors make largest net selling of $8.7 bn since 2008] 기사의 본문 이미지

Foreign investors’ selloff came to 10.0 trillion won ($8.7 billion) in the Korean securities market in H1 this year, said the Korea Exchange (KRX) Monday. It is the biggest since their net selling worth 15.9 trillion won in H2 of 2008.

Foreign investors made net selling in all months except February and May in H1. Their net selling in June totaled 5.0 trillion won, comprising half of all their net selling in the first six months this year.

Their continued net selling pushed the Korea’s benchmark KOSPI 6.70 percent lower.

Overseas investors dumped IT shares most, totaling 3.5 trillion won. 58 percent of all sold shares belonged to the IT and transportation equipment sectors.

Among shares sold by investors abroad, Samsung Electronics accounted for the largest number of shares. Samsung Electronics’ share prices tumbled down 11.83 percent in H1, as Vanguard fund changed benchmarks for some stocks, foreign securities downgraded share price estimates, and the anxiety prevails over when the US Fed will taper quantitative easing.

The fall is 5.13 percentage points steeper than the KOSPI’s decline.

The second most sold off share was Hyundai Motor (-881.3 billion won), followed by Korea Electric Power Corporation (KEPCO) (-611.5 billion won), LG Chem (-601.8 billion won), and E-mart (-490.9 billion won).

In contrast, foreign investors made a net buying of SK Hynix worth 1.4 trillion won, LG Electronics worth 257.1 billion won, Hyundai E&C worth 196.6 billion won, and Shilla Hotel worth 186.1 billion won.

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