Report: Foreign investors sell off a combined 176 trillion won in Samsung and SK Hynix shares

Brokerage research reports say foreign investors have continued to sell off Korean stocks, with no sign of the selling pressure easing yet. But a series of events from late this month to mid-November could mark a turning point for foreign capital to return. Earnings from the two major memory chip giants, the U.S. midterm elections, changes in the Middle East situation, and the listing of AI company Anthropic are seen as core variables that could reverse market sentiment. Data from the Korea Exchange on the 14th showed that, as of the previous trading day, foreign investors had net sold a cumulative 203.6977 trillion won in the main KOSPI market this year. Of that, just two stocksSamsung Electronics and SK Hynixaccounted for about 176 trillion won in net selling, or 86% of total foreign outflows. Samsung Electronics' foreign ownership ratio fell to 18-year low since 2008; SK Hynix's foreign ownership ratio also dropped below its ten-year average. This round of foreign capital withdrawal has been the core driver of the KOSPI's decline. Heightened Middle East geopolitical risks, controversy over OpenAI's annual revenue, and concerns over rising competitiveness of foreign companies have combined to weigh on the market. On the 13th, the KOSPI fell as low as 5911.11 points during intraday trading, dropping below the 6000 mark for the first time since July 31.