Anjali Sharma
GG News Bureau
NEW YORK, 2nd Dec. According to news reports on Monday Samsung Electronics foreign net purchases reached all-time high the bourse operator KRX started to compile such data in 1999.
Bourse data showed that foreign investors’ net purchases of Samsung Electronics stocks reached an all-time high last year on rising expectations of a recovery in the semiconductor industry.
According to the data by the Korea Exchange offshore investors scooped up a net 16.7 trillion won ($12.9 billion) worth of stocks of Samsung Electronics, the world’s largest memory chipmaker in 2023.
It is also the first time in four years that foreigners turned to net buyers of Samsung Electronics, the largest stock in terms of market capitalization on the main KOSPI bourse.
They had remained net sellers from 2020-2022.
Foreigners held 53.9 percent of the shares in Samsung Electronics in 2023, up 49.6 percent from a year ago.
Na Jung-hwan, an analyst from NH Investment & Securities Co said “Thanks to the positive outlook for a turnaround in the chip industry, foreigners have bet on Samsung Electronics,”.
Stocks of Samsung Electronics rose for seven days in a row to close at a yearly high of 78,500 won Thursday, the last trading day of 2023.
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.
