Foreign Investment in Korean Stocks Reaches 26.211 Trillion Won, a Two-Month High

On July 23, data from the Korea Exchange showed that foreign investors net purchased 26.211 trillion won in the Korean main board market the previous day, marking the highest record in nearly two months. Driven by foreign buying, the KOSPI index briefly surpassed the 700-point mark for the first time in four trading days, triggering the 20th suspension of the program trading mechanism this year. However, in the afternoon, institutional and individual investors took profits, causing the index to give back most of its gains, ultimately rising only 0.74% to close at 6,797.70 points. Kim Seok-hwan, an asset securities researcher, stated that despite significant net purchases by foreign investors, individual investors and financial institutions concentrated on selling semiconductor heavyweight stocks to lock in profits, leading to a noticeable narrowing of the index's gains. On that day, individual and institutional investors net sold 12.177 trillion won and 13.961 trillion won, respectively.

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