Foreign Investors' Net Purchase of South Korean Stocks Hits Highest Level in Nearly Two Months

BlockBeats News, July 23rd. Data from a South Korean exchange on July 23rd showed that foreign investors were net buyers of 2.6211 trillion Korean won on the main board market, marking the highest level in nearly two months. With the boost from foreign buying, the KOSPI index reclaimed the 7,000-point level during intraday trading after four consecutive sessions and triggered the 20th circuit breaker this year. However, in the afternoon, institutions and retail investors took profits, causing the index to give up most of its gains, ending the day with a modest increase of 0.74% at 6797.70 points.

Kim Sik-Hwan, a researcher at Future Asset Securities, stated, "Despite the significant net inflow of foreign capital, retail investors and financial institutions concentrated on selling off semiconductor-heavy stocks to lock in profits, leading to a noticeable narrowing of the index's gains." On that day, retail investors and institutional investors net sold 1.2177 trillion won and 1.3961 trillion won, respectively.