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| 네이버 (사진=네이버) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] Foreigners who used to buy Samsung Electronics are turning to 'Naver' in May.
Foreigners, who sold Naver net last month, are turning to buying this month. This is due to Naver's announcement of its first-quarter surprise performance as it seeks to cut costs.
On the other hand, Kakao, which had an earning shock, is being shunned.
According to the Korea Exchange on the 16th, Naver was the most net buyer by foreigners during the 10 trading days until the 15th of this month.
It bought a net KRW 224.8 billion during the period, higher than Samsung Electronics (KRW 222.7 billion) and Hyundai Motor (KRW 174.3 billion).
Foreigners sold a net 48.6 billion Naver in March, showing a selling advantage. It sold a net 9.6 billion won last month, but it has turned into a buying advantage this month.
Naver's operating profit in the first quarter was 330.5 billion won, 7.6% more than its market forecast of 307.1 billion won.
On the other hand, Kakao, which had a poor performance, lost its foreign buying. Net purchase this month is only 100 million won. It bought a net KRW 24.7 billion over the past month before its earnings were announced, but its buying spree plunged due to lower-than-expected first-quarter earnings. Kakao's operating profit in the first quarter was 71.1 billion won, well below market forecasts (122.7 billion won).
Short selling is also on the rise as more investors expect Kakao's stock price to fall. Kakao's short stock selling balance was 324.8 billion won on the 2nd, but increased to 340.9 billion won on the 11th. During the same period, Kakao Pay's short stock selling balance decreased from 129.6 billion won to 113.2 billion won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
