Foreign investors 7trillion won in net selling sent the KOSPI down 1.8%, while semiconductor equipment stocks surged
6In 4, foreign investors 7trillion won in net selling sent the KOSPI down 1.8%. Semiconductor equipment stocks surged, while the chairman and CEO of Smec made on-market purchases.
6In 4, foreign investors made net sales of 7trillion won, sending the KOSPI down 1.8%. Investor sentiment appeared to weaken amid the index's decline. Reports said trading value and selling pressure were concentrated.
The exchange rate approached 1,530won per dollar. On the same day, Samsung Fire & Marine Insurance surged 13%, buoyed by expectations of higher interest rates and foreign buying. Among insurance stocks, buying and selling flows showed a tendency to concentrate in certain stocks.
Equipment stocks showed broad strength in the semiconductor sector. Eugene Technology and Wonik IPS approached the upper limit. Buying pressure also increased for related small and midsize equipment companies.
SMEC’s chairman and CEO purchased the company’s own shares on the open market. The company said it would accelerate its growth based on semiconductors and robotics. The disclosure of insider purchases was made public to the market.
Korea Investment & Securities forecast that the KOSPI 11,000could also be possible, citing a semiconductor supercycle. The brokerage explained that improving semiconductor industry conditions would be positive for the index. The forecast led to bets on related sectors.
SK Siltron’s 1tier supplier has emerged on the market as an M&A target. The target of the sale is known to be a company related to semiconductor materials and equipment. It was reported that discussions are under way between potential buyers and the seller.