Foreigners become net buyers of S. Korean stocks amid eased AI woes: data

Foreign investors are snapping up tech and auto shares in the local stock market, possibly becoming net buyers a month after turning to net selling, data showed Tuesday. Foreign investors purchased a net 1.9 trillion won ($1.3 billion) in the larger Korea Stock Price Index (KOSPI) market from Dec. 1 through Monday, according to the data from the Korea Exchange, the country's main bourse operator. It marks a sharp turnaround from November, when they sold a net 14.4 trillion won, the data showed. Foreigners continued their buying spree Tuesday, net purchasing 373.2 billion won worth of local stocks as of 11:10 a.m. Offshore investors appeared mainly focused on large-cap semiconductor makers and auto companies. SK hynix was their top pick, purchasing a net 824.7 billion won. Foreigners also purchased 426.1 billion won worth of preferred shares at Samsung Electronics and 322.1 billion won worth of shares of Hyundai Motor. "Foreigners and institutions have turned net buyers and are leading the year-end stock rally, boosted by favorable factors from the U.S. stock market, including recent advanc