Foreign investors have sharply increased purchases of South Korea’s major chipmakers, led by Samsung Electronics and SK hynix, following a ceasefire agreement between the US and Iran.
According to the Korea Exchange on Friday, foreign investors bought a combined 3.33 trillion won ($2.5 billion) worth of the two stocks over two trading days from Wednesday to Thursday.
Samsung Electronics topped net purchases at 2.65 trillion won, followed by SK hynix at 441.9 billion won and Samsung Electronics preferred shares at 229.9 billion won.
The buying spree reflects easing geopolitical risks and renewed expectations for a semiconductor upcycle, market watchers said.
Brokerages have turned increasingly bullish on the sector. SK Securities recently raised its target prices for Samsung Electronics and SK hynix to 400,000 won and 2 million won, respectively, while KB Securities lifted its SK hynix target to 1.9 million won.
jylee@heraldcorp.com
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