Technology

Foreigners bought a record $11.7 billion in South Korean shares in Q1

Foreign investors have set a new record in South Korea, purchasing over 15 trillion won worth of local shares in the first quarter, as reported by data from the country’s main stock exchange KRX.

The net purchase by foreigners in the first quarter totaled 15.77 trillion won, the highest quarterly figure since 1998. This surpasses the previous record of 14.79 trillion won in the third quarter of 2009, with most of the investments going into semiconductor and auto industries.

Notably, foreign investors bought shares of companies like Samsung Electronics, Hyundai Motor, and SK hynix, with the stock price of the top 10 purchased shares increasing by an average of 22.6 percent during the period, outperforming the market average.

However, experts anticipate a slowdown in foreign buying in the second quarter, citing factors such as the upcoming end of the temporary ban on stock short selling and the possibility of rate cuts by the U.S. Federal Reserve. Byun Joon-ho, an analyst at IBK Securities, shared insights on the expected trend in the coming months.

Overall, the influx of foreign investments in South Korean shares has reached unprecedented levels, marking a significant milestone for the country’s financial market.

IANS

IANS, established in 1986, is India's largest independent news service, offering 24x7 news from India and South Asia, and a preferred source for diverse content across six business verticals.

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