Major chipmaker SK hynix was the top pick for foreign investors in the first quarter of the year, data showed Saturday.

The foreign investors scooped up a net 1.88 trillion won (US$1.28 billion) worth of SK hynix shares during the January-March period on hopes for a turnaround in the sector, according to the data compiled by the Korea Exchange.

Defense firm Hanhwa Aerospace and internet portal operator Naver came in next with their net buyings of 733 billion won and 434 billion won, respectively.

In contrast, they heavily sold shares worth 1.18 trillion won worth of shipbuilder Hanhwa Ocean in the first quarter, followed by top automaker Hyundai Motor with 790 billion won and leading banking group KB Financial with 548 billion won, the data showed.

In the first three months of the year, they sold a net 4.73 trillion won worth of local stocks.