Foreigners Buy $5.9 Billion of Kospi Stocks in Five Days, Pouring $5.2 Billion Into Samsung, SK Hynix

Foreign investors were net buyers of 8.156 trillion won ($5.9 billion) over five trading days as the Kospi index rose 9.05%

Buying was concentrated in Samsung Electronics, at 3.483 trillion won ($2.52 billion), and SK Hynix, at 3.649 trillion won ($2.64 billion), over the same period

Foreign investors have resumed buying South Korean stocks, led by Samsung Electronics and SK Hynix.

Data from the Korea Exchange showed foreign investors were net buyers of 86 billion won ($62 million) on the Kospi market on Aug. 18. That extended their net-buying streak to five consecutive sessions starting on Aug. 11. Cumulative net purchases over the period reached 8.156 trillion won ($5.9 billion).

The Kospi also rebounded alongside the foreign buying. The index rose 0.73% on Aug. 11, 3.68% on Aug. 12, 3.56% on Aug. 13 and 2.42% on Aug. 14. It fell 1.55% on Aug. 18, but was still up 9.05% from its Aug. 10 close.

Foreign buying was concentrated in South Korea's two biggest chipmakers. From Aug. 11 through Aug. 18, overseas investors were net buyers of 3.483 trillion won ($2.52 billion) worth of Samsung Electronics shares and 3.649 trillion won ($2.64 billion) worth of SK Hynix shares. Combined net purchases in the two stocks totaled 7.132 trillion won ($5.16 billion), accounting for about 87% of foreigners' total net buying of 8.156 trillion won over the period.

Samsung Electronics rose 16.74% from its Aug. 10 close, while SK Hynix gained 17.04% over the same period. That lifted Samsung back above 260,000 won and SK Hynix above 1.6 million won.

Lee Su, Hankyung.com reporter, 2su@hankyung.com