◆Ajou Economic Key News
▷Foreign investors have sold 57 trillion won in Samsung Electronics and SK Hynix for a month straight
- Foreign investors have aggressively sold off shares in Samsung Electronics and SK Hynix.
- Over the past month, foreign investors have net sold approximately 69 trillion won in the domestic stock market, with the sell-off heavily concentrated in Samsung Electronics and SK Hynix. Meanwhile, individual and institutional investors have countered with significant net purchases, helping to defend the KOSPI index above the 8000 mark.
- According to the Korea Exchange on June 7, from May 7 to June 5, foreign investors net sold 69.4 trillion won in the KOSPI market. During the same period, individuals net purchased 56.4 trillion won, and institutions net bought 12.1 trillion won, absorbing the foreign sell-off.
- The foreign selling has been particularly focused on large-cap semiconductor stocks. Samsung Electronics topped the list with a net sell of 30.1 trillion won, while SK Hynix saw a net sell of 27.3 trillion won. Together, these two stocks accounted for the majority of the total foreign net selling.
◆Major Reports: Sudden Shift in Market Sentiment [SK Securities]
- Following a significant drop in the domestic stock market on Friday, the KOSPI 200 futures saw an additional 8% decline due to surprising U.S. employment data, indicating a continued downward trend in the U.S. market with diminishing buying interest.
- With limited catalysts to revive market sentiment over the weekend, a negative reaction at the start of the week is likely.
- While it is generally observed that corrections in a bull market tend to hit the sectors that have risen the most, the narrative surrounding AI, which is currently driving the market, is evidently unfavorable.
- This week, key variables include the upcoming SpaceX listing on June 12, the U.S. Consumer Price Index (CPI) report for May, and earnings announcements from Oracle and Adobe.
- The market is particularly focused on whether Oracle and Adobe can replicate the 'beat and raise' performance seen with Broadcom, whether the CPI report will show stability, and if the European Central Bank (ECB) will proceed with a 25 basis point rate hike as expected.
◆Major Announcements After Market Close (June 5)
▷Taeyoung Construction has secured a contract worth approximately 1.208 trillion won from Busan Urban Corporation for the construction of a multi-purpose administrative town in western Busan.
▷Shinsegae Engineering has won a contract worth about 10.1 billion won from Waybis for cleanroom and utility facility construction.
▷DL E&C has received a conditional purchase order worth approximately 499.9 billion won from Korea East-West Power for the installation of power blocks and ancillary facilities at a clean energy complex in Jeju.
▷Hansol Technics has decided to dispose of land and buildings at its Ochang plant in Chungbuk for a total of 64 billion won to improve management efficiency and financial structure.
◆Fund Trends (as of June 4, excluding ETFs)
▷Domestic equity funds: 1.025 trillion won
▷Foreign equity funds: -223 billion won
◆Key Schedule for Today (June 8)
▷Japan: GDP growth rate (Q1)
▷Germany: Factory orders (April)
▷Eurozone: Sentix Investor Confidence Index (June)
▷U.S.: Employment Trends Index (May)
* This article has been translated by AI.
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