Despite the Surging Won-Dollar Exchange Rate
The Korean won-U.S. dollar exchange rate surged last month, led by the Fed’s hawkish stance. The rate topped 1,350 won in about 13.5 years on Aug. 29 before closing at 1,362.6 won on Sept. 2.
Still, foreign investors recorded a net buying of 3.9837 trillion won in the South Korean stock market last month, this year’s largest monthly net buying. Specifically, their net buying in KOSPI was 3.6482 trillion won, that in KOSDAQ was 335.5 billion won, and their net selling in KONEX was 30 million won.
They increased their investment in Samsung Electronics and LG Energy Solution by 131.4 billion won and 578.8 billion won, respectively. In addition, it increased 241.7 billion won in SK Hynix, 187.4 billion won in LG Chem, 529.7 billion won in Hyundai Motor Company, 533.2 billion won in Samsung SDI and 176.5 billion won in Kia. On the other hand, they posted a net selling of 14.4 billion won in Samsung Biologics, 70.3 billion won in Naver and 44.9 billion won in Kakao.
Their net buying was 1.7932 trillion won in July. Previously, their net selling amounted to 3.9371 trillion won in January, 4.5045 trillion won in March, 6.1463 trillion won in April and 6.1478 trillion won in June. This month, they recorded a net selling of 424.9 billion won and 249.9 billion won on the first and second days with the U.S. dollar still strong and the Fed predicted to raise rates a lot on Sept. 21.