This photo taken May 19, 2023, shows the dealing room of Hana Bank in Myeongdong, central Seoul. (Yonhap)
SEOUL, May 20 (Korea Bizwire) — Foreign investors have scooped up more than 10 trillion won (US$7.52 billion) worth of Korean stocks so far this year on eased uncertainties and a rosy outlook for the chipmaking sector, data showed Saturday.
According to the data compiled by the Korea Exchange, foreigners’ net buying of Korean stocks traded on the main bourse reached 10.94 trillion won through Friday this year.
Foreign investors have maintained their buying mode this year, a turnaround from a net-selling mode over the past three years.
In 2020, foreign investors sold a net 24.52 trillion won of local stocks, and offloaded 25.4 trillion won in 2021 and 7.18 trillion won in 2022.
“Uncertainties, such as the U.S. Fed’s rate hikes and the banking crisis, have eased to some degree, and the appetite for risky assets has increased,” said Park Sang-hyun, an analyst at HI Investment & Securities.
(Yonhap)
