More stocks on the KOSPI have fallen than risen recently, indicating a concentration of investment in semiconductor giants amid the market surge. According to the Korea Exchange, out of 796 KOSPI-listed stocks, 586 declined over a two-week period, while only 210 advanced. This trend persists despite significant gains by major players like Samsung Electronics and SK hynix.
The market saw a disparity with only 72 stocks advancing on a day when KOSPI surged by 2.55%, contrasting with 713 stocks rising during a more modest 0.41% gain. Analysts note that the dominance of Samsung Electronics and SK hynix as key assets in various financial products contributes to this market concentration. Investors are expected to focus on these top-cap chip leaders driving the KOSPI rally.
In a separate trend, South Korean retail investors sold over $641 billion worth of overseas stocks in early June, potentially signaling a shift back to the local market amidst soaring semiconductor shares. Data from the Korea Securities Depository revealed that local retailers net sold $793.67 million of foreign stocks in a week, continuing a selling streak that began in April. This significant selling surpasses previous months and may lead to a third consecutive month of net selling, a trend not seen since 2023.
