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[Apha Biz=(Chicago) Reporter Paul Lee] According to the Korea Exchange on the 30th, the agency posted a net selling of 2.5242 trillion won in July alone. All but five trading days have been sold. In contrast, foreigners and individuals posted selling advantages of KRW 1.158 trillion and KRW 1.5476 trillion, respectively, during the same period.
Despite the massive net selling, institutions continued to buy some stocks and boosted stock prices. Instead of secondary battery stocks that showed high volatility, they focused on stocks that are expected to rebound, especially undervalued ones.
Naver (KRW 318.2 billion), which ranked first in institutional net buying in July, had its current stock price of KRW 211,000, up 15.43% from the closing price (KRW 182,800) on the 30th of last month.
Naver has been on the decline in stock prices in the past two years. Analysts say expectations have been high ahead of the recent announcement of "HyperCloverX," a super-large artificial intelligence (AI) service, and the decision to merge and close some of the services that have fallen into business.
SK Hynix, which ranks fourth in institutional net buying, saw its stock price rise 0.8% to 128,000 won from 115,200 won on the 30th of last month. The agency bought 94.4 billion won worth of SK Hynix shares this month. SK Hynix is expecting a turnaround in the second half of the year, starting with the announcement of its performance in the second quarter.
In addition, Korean Air (KRW 108.6 billion), S-Oil (KRW 102.9 billion), and Rino Industrial (KRW 85.8 billion) ranked second and third in net buying and fifth, respectively. Stock prices of these stocks rose 9.3%, 11.1% and 0.41%, respectively, this month.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
