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Foreign investors have raked in Samsung Electronics, HYBE and SK hynix shares during the first four trading sessions, after a complete short selling ban began on Monday.
According to the Korea Exchange (KRX) on Friday, foreign investors net-purchased 470 billlion won ($357 million) worth of Samsung Electronics shares from Nov. 6 to 9, making the chipmaker their most favorite stock in terms of net-buying amount. Other top choices by foreign investors during the period included HYBE (400 billion won) and SK hynix (270 billion).
On the other hand, the most-sold-off stock item by foreign investors during the same period turned out to be POSCO Holdings (230 billion won), followed by POSCO Future M (170 billion won).
In contrast, retail investors' net-buying and net-selling patterns were opposite to those of foreign investors, showing their consistent preferences for secondary battery-related energy companies.
As for local institutional investors, their top choice of net purchase was HYBE (70 billion won), followed by Kakao (30 billion won). Their two most sold-off stock items were Samsung SDS (80 billion won) and Naver (60 billion won).
Market watchers view that foreign investors' key demand has shifted toward the semiconductor sector from secondary battery-related stocks, which had benefited from a significant portion of short covering — buying back of borrowed stocks in order to close out an open short position. By opting to bet on the growth of the semiconductor and entertainment industries, foreign investors seem to be focusing on medium- to long-term growth sectors.
"HYBE is considered attractive for investment with the continued global influx of new fandom into its existing intellectual property," said Lee Hwan-wook, an analyst at Yuanta Securities Korea. "This in turn is expected to lead a rapid operating leverage effect in the firm's new business areas, such as platforms and games."
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