Foreign Investors Were Selling Across the Board, But the Stock That Drew KRW 1.9 Trillion Was Not Samsung Electronics or SK hynix [Theme+]

[Financial News] In June, when the KOSPI surged past the 9,000-point mark and staged a record-breaking rally, foreign investors sold more than KRW 37 trillion worth of domestic stocks on a net basis. Even so, they poured money into stocks tied to artificial intelligence (AI) infrastructure. A prime example was Samsung Electro-Mechanics, which has jumped nearly sevenfold this year and attracted net buying of almost KRW 1.9 trillion.
According to the Korea Exchange on the 27th, foreign investors sold a net KRW 37.3844 trillion in the main market from the 1st to the 26th of this month. Institutions also posted net sales of KRW 380.6 billion over the same period. Only individual investors bought a net KRW 36.9606 trillion, absorbing the selling pressure from foreigners and institutions.
During this period, Samsung Electro-Mechanics topped the list of net purchases by foreign investors, who bought KRW 1.8848 trillion worth of shares. It was followed by LEENO Industrial Inc. (KRW 444.9 billion), Doosan (KRW 355.4 billion), LG Energy Solution (KRW 311.5 billion), and Mirae Asset Securities (KRW 291.9 billion). By contrast, Samsung Electronics and SK hynix, which have led this year's rally in the domestic market, were nowhere to be found among the top net-bought stocks.
In particular, Samsung Electro-Mechanics has soared 681.57% so far this year, ranking first in gains on the main market. Samsung Electro-Mechanics preferred stock also rose 569.83%, placing second. Despite the sharp short-term rally, foreign investors appear to have chosen to keep buying rather than lock in profits.
Brokerages said the company's competitiveness in next-generation substrates was a key reason foreign capital flowed in. Kim Jong-bae, a researcher at Hyundai Motor Securities, said, "Samsung Electro-Mechanics is ahead of global rivals in next-generation substrate technologies such as FC-BGA, Embedded PCB, and glass core substrate." He added, "With large orders for silicon capacitors and strong technological competitiveness, the company can command a premium over global peers."
The foreign investors' top net-bought stocks, including Samsung Electro-Mechanics, share a common theme: AI infrastructure, power, and the next-generation semiconductor ecosystem. Analysts say capital is shifting away from Samsung Electronics and SK hynix toward areas with structural growth potential, such as components for AI servers, semiconductor testing, power infrastructure, and Energy Storage System (ESS).
LEENO Industrial Inc. is seen as a major beneficiary of rising demand for AI semiconductor test sockets. Jung Hong-sik, a researcher at LS Securities, said, "Expanding AI semiconductor R&D by global big tech companies is driving higher demand for test sockets." He added, "Even after the second quarter, earnings improvement is likely to continue alongside growth in AI semiconductors."
Doosan is also viewed as a company with two growth engines: AI data centers and nuclear power. Min-woo Ju, a researcher at Stunning Value Research, said, "Doosan has both key materials for NVIDIA Blackwell GPUs and a power infrastructure business." He described the company as "a core beneficiary of the AI infrastructure supercycle, spanning semiconductor materials on the front end of AI and energy infrastructure on the back end."
LG Energy Solution also drew investor interest as expectations for improved earnings in the second half outweighed concerns over the slowdown in the electric vehicle market. Jung Min-woo, a researcher at NH Investment & Securities, said, "The weakness in the U.S. EV market is part of a bottoming-out process." He added, "As new ESS orders and Tesla's sales expansion are added, earnings improvement should begin in earnest in the second half."


dschoi@fnnews.com Choi Du-seon Reporter