Foreign investors sold semiconductors and bought department stores…3department store foreign sales 1billions within reach
After foreign investors sold semiconductors, they aggressively bought department stores and retail stocks. Department store 3foreign sales are expected to reach 1trillion won this year, and the retail industry is expecting a recovery in the 3quarter.
Foreign investors were observed selling semiconductors on 7month 13day and buying up department stores and retail stocks in large volumes. For investors, the key point is that the direction of capital flows has changed.
Department store 3foreign sales this year are expected to exceed 1trillion won. The phrase 'within reach' for annual foreign sales of 1trillion won was reported.
A recovery in tourist spending is supporting this trend. It has been pointed out that department stores have become a must-visit course for foreign tourists.
The retail industry said it expects a recovery in the 3quarter. Factors cited included foreign tourists, summer vacation demand and the Chuseok holiday period.
Brokerages are rolling out event campaigns tailored to the 3quarter. Shinhan Investment & Securities said it will hold a retirement pension event for the 3quarter.
IBK Investment & Securities said it will provide travel subsidies through a YouTube event. Both companies run programs for customers in the 3quarter.
Some reports said foreign funds were flowing into the retail and department store sectors, drawing large amounts of money into related stocks. Specific stock names and amounts should be checked in separate disclosures.
The above is a summary of the report dated 7month 13day. If additional confirmed disclosures or earnings announcements are released, the content may change.