Foreigners remain net buyers of S. Korean stocks despite virus woes

By Chung Joo-won

SEOUL, Feb. 7 (Yonhap) -- Foreign investors have remained net buyers of local shares for three consecutive days in apparent bargain hunting, despite market fears from the novel coronavirus, data showed Friday.

Foreigners have been net buyers of local stocks since Tuesday, net purchasing 1.09 trillion won (US$918.4 million) worth of local stocks, according to data by the Korea Exchange (KRX).

Strong foreign net purchases pushed up the benchmark Korea Composite Stock Price Index (KOSPI) to close at 2,227.94 points Thursday, up 2.88 percent from Monday's closing.

Samsung Electronics' NAND flash plant operates in Xian, while that of SK hynix runs in Wuxi and Chongqing. All three are located as far away as 800 kilometers from Wuhan, the origin of the coronavirus.

In the three-day period, foreign investors also net bought shares of LG Chem and Samsung SDI worth 178.8 billion won and 81.9 billion won, respectively.

jwc@yna.co.kr
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