Foreign ownership of Korean stocks reaches highest in nearly 6 yrs
Foreign ownership of Korean stocks as a share of total market capitalization reached its highest level in five years and nine months in January, driven by net purchases in the shipbuilding, defense and nuclear power industries, the main bourse operator said Sunday. Foreigners' stock holdings rose to 37.18 percent of total market capitalization on Jan. 7, the highest level since April 9, 2020, when the rate was at 37.34 percent, according to data from the Korea Exchange (KRX). The increase largely came as offshore investors scooped up shares in the semiconductor sector in the second half of last year, followed by shares in the shipbuilding, defense and nuclear power sectors this month. Foreign investors net purchased 14.1 trillion won ($9.7 billion) worth of Samsung Electronics shares in the second half of last year alone. This month, the most popular shares were Hanwha Ocean, Doosan Enerbility and Naver, in that order. Investments in the shipbuilding and nuclear power sectors were driven by anticipation of large-scale orders amid an increase in global demand, while those in the defense in
