Foreigners Buy $5.9 Billion of Kospi Stocks in Five Days, With $5.2 Billion Going to Samsung, SK Hynix

Foreign investors were net buyers of 8.156 trillion won ($5.89 billion) over five trading days as the Kospi climbed 9.05%

Net purchases totaled 3.483 trillion won ($2.52 billion) in Samsung Electronics and 3.649 trillion won ($2.64 billion) in SK Hynix over the same period

Foreign investors have resumed buying South Korean stocks, focusing on Samsung Electronics and SK Hynix.

The Korea Exchange said foreign investors were net buyers of 86 billion won ($62.1 million) on the Kospi on Aug. 18. That extended their net-buying streak to five straight trading sessions from Aug. 11. Cumulative net purchases during the period reached 8.156 trillion won ($5.89 billion).

The Kospi 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, foreign investors were net buyers of 3.483 trillion won ($2.52 billion) of Samsung Electronics and 3.649 trillion won ($2.64 billion) of SK Hynix. Combined net purchases in the two stocks came to 7.132 trillion won ($5.15 billion), accounting for about 87% of foreigners' total net buying during the period.

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

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