Samsung stock tops charts as foreigners fuel rebound

Data shared by the Korea Exchange reveal that offshore investors scooped up a net $12.9 billion worth of stocks of Samsung in 2023. Foreign investors’ net purchases of Samsung stocks reached an all-time high, thanks to rising expectations of a recovery in the semiconductor industry.

It’s worth noting that it’s the largest foreign net buying of Samsung shares since the bourse operator KRX started to compile such data in 1999. As a result, foreigners held 53.9 percent of the shares in Samsung in 2023, up 49.6 percent from a year ago.

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Stocks of Samsung Elec rose for seven days in a row to close at a yearly high of 78,500 won Thursday, the last trading day of 2023. Meanwhile, foreigners purchased a net 2.8 trillion won worth of stocks of SK hynix, the No. 2 memory chipmaker, last year, up from a net buying of 833 billion won in 2022.

// Via